Bailey
Welcome to our
Weekly Newsletter
we're so glad you're here!
What to expect!
The Kendall Bailey Playbook
Over the last 15 years of Kendall Bailey's time helping HMO landlords in Yorkshire, we have constantly tweaked our systems and innovated to get the best out of our client's HMOs.
This year, we've decided to release sections from each of our playbook chapters to you… completely free!
Below are three of the steps in the KB journey we identified to address to increase our Landlords' annual rent by an average of 8% in the first year of joining Kendall Bailey…
Advertising too late
List like a hawk!
One of our secrets to securing over 99% occupancy across our entire client portfolio over the last 3 years has been to always re-advertise the room within 24 hours of the existing tenants giving notice.
Finding the right tenants takes time and leaving it 1–2 weeks post notice can either lead to you settling for the wrong tenant at the wrong price to avoid having the room empty.
We know time can sometimes run away with us, and what's an extra week when you're a busy landlord?
But, emember a 5-day vacancy per room in a 5-bed property is nearly a month in lost rent and can destroy your property's return on investment.
Plus, it's nice to sit back and relax once you've achieved a 10% rental increase and secured a tenant with no void whatsoever – we have achieved this percentage increase on 79% of our rooms consistently in the last 3 years.
Make sure you have all of your pictures and listing information ready to go at the click of a button to make your life easier and ensure you don't fall foul of the first blunder!
Delayed responses to enquiries
Time kills lets
Over the years we have found that some tenants shop around for the best deal, others will simply go with the first room they see that meets their criteria.
To maximise occupancy and enjoy the luxury of choosing your tenants, you must respond to messages and bookings promptly, ideally within minutes!
A few must do's to help with this:
- Have notifications popping up on your phone, so as you are waiting in a queue you can quickly drop a response
- Decide on a few options for viewing dates and times, so you can immediately offer these to prospective tenants
- Draft your responses so you can copy and paste these instantly, ensuring professionalism and saving you time
Ignoring enquiries leads to fewer tenant options, lower room prices, decreased occupancy, and diminished tenant quality. Ouch!
Looks Matter
It pays to dress well
We all know this one but I can't stress the importance of your room being well dressed with good photographs and lighting.
Over the years we have found that properly dressing rooms with good photographs can add between 5–8% to the value of a room.
To reiterate, you can earn 5–8% more per annum, from just properly dressing rooms and ensuring professional photographs and videos!
This is probably the biggest and easiest thing you can do to earn more money from your existing asset!
Over the course of a year, this difference could add up to a luxury holiday on the Costa Del Sol…
Or enable you to outsource managing your property while earning the same take-home income!
Wishing you continued success,
Kimberley
If you want our cheat sheet on how to best dress a room, simply respond saying "yes" and we'll pop a copy over
I'm passionate about providing exceptional customer service and helping landlords to achieve the best return on their investment. I take a hands-on approach to managing the business, enjoying meeting with landlords and building strong relationships with them. The whole team is committed to maintaining properties to the highest possible standards and ensuring that they are managed with the same care and attention that I give to mine own portfolio.
Kimberley – Business Owner
With a strong interest in HMOs, I'm always on the lookout for new opportunities to add to my growing property portfolio. Dedicated to ensuring that Kendall Bailey emains at the forefront of the lettings industry, I'm continuously identifying new areas for growth and improvement; which I am happy to share with you too.
Ben – Business Owner
If you're interested in getting a free rental review, a free full compliance health check of your HMO, or have any questions about optimising your property's performance, please do not hesitate to contact us. We're here to support you in achieving continued success in the HMO market.
Amanda – Finance & Business Manager
Work with us today
Have any questions about working with us?
Whether you are looking to hand over the management or just want to catch up on the current HMO market we are here to help.