The Main Media Doesn’t Understand Private Landlords and Suppliers to the Private Rented Sector Could Market to It Better

Does the media “get” the private rented sector? Do they understand the market?

I’m afraid the answer to this is often “No”

On Sundays we always buy a “chunky” Sunday paper for the main reason my son wants to read the Sports pages and my partner wants a TV guide and to tut about the stick thin models in the fashion supplement.

So, as we have the paper anyway, I always read the Personal Finance pages over my Sunday morning coffee and, while some of the writing is good, I’m always pretty amazed by the lack of understanding that there is out there about the private rented sector.

(As an aside I read the FT Weekend for my personal finance news – accurate, sharp and to the point and also pretty good on the housing markets (including the buy to let market) too. For other news on our sector I read sites like LandlordZone by genial Tom Entwistle, who does a great job from up in his  hill top hideaway. Sites like Inside Housing and Property Week are also good for different perspectives too.)

Lack of Understanding

Of course, the lack of understanding of the private rented sector in much of the rest of the main press may not surprise anyone.

The UK press does a great job in many areas but its track record in some aspects of personal finance is a tad mixed –for example at forecasting things like banking crises I’d give it just 2 out of 10.

How many journalists really saw the credit crunch coming and the collapse of the UK’s major banks? Answer – few.

The fact is that most journalists were (and still are) well outside the loop which is the City’s Inner Magic Circle of Investment Bankers and when it comes to their predictions for banking profits, the press’s opinions are often about as reliable as a Fifa Exec’s word.

In last weeks’ Sunday paper (which shall be nameless) there is an article about the outlook for the private rented sector that has at least 5 major mistakes, false assumptions and conclusions. Oh dear!

So please, if you are a private landlord or an organisation with an interest in our sector, please take what you read in much of the press with a big pinch of salt.

In terms of suppliers to the private rented sector a similar lack of understanding also exists – especially with regards to how to market to private landlords.

The supplier group that actually gets closest to doing it right is the providers of landords’ property insurance – they understand quite well how to reach landlords cost effectively, especially using the internet. Another supplier group that knows how to market to private landlords is the On Line Lettings Portals – through which landlords can stick their properties on all the sites like Rightmove and FindAProperty for less than £60 and a whole lot cheaper than using a letting agent.

Take Advantage

So, if you are a landlord, you should take advantage of this and shop around for these two products: Landlords insurance can usually be obtained quickly and much cheaper on line than you will get if you just go with your mortgage lender.

And by using On Line Lettings Portals you can have your property on all the sites that the big letting agents use. Then just make sure you reference check the tenants carefully and choose the right one. Not easy to do but very easy if you have read Chapter 7 of my book!

There are links to an On Line Lettings Portal and to a Landlords’ Insurer at our Affiliates Page but we have included them at the very bottom of this weeks’ post – in purple.

For other products and services for landlords, private landlords will have to work harder to find the best deals and offers themselves – at least until such time as the providers of services get a whole lot better at their marketing and at finding private landlords first!

MORE ABOUT LETTINGFOCUS AND WHAT WE DO

LettingFocus.com is the home of Private Rented Sector and Landlord Information.

I’m David Lawrenson, a landlord and property investor myself for over 25 years and author of “Successful Property Letting” – the UK’s top selling commercially published property book for the last 3 years. 25,000 copies sold.

Services to Businesses and the Public Sector

Primarily I am a consultant to a range of organisations including banks, building societies, local authorities, social housing providers, institutional investors and insurers – helping them with their landlord viagra from canada facing or buy to let product strategies, marketing and services.

For example, I help banks improve their buy to let mortgage lending practices and I help housing associations / local authorities find private landlords (private rented access schemes, local letting agency models etc.)

I also write for property websites and am regularly quoted by the media.

Services for Private Landlords

We also find a limited amount of time to help landlords and property investors by coaching them in how to make money in the private rented sector using ways that work, which are ethical, fair to tenants and which involve minimal risk to the investor. We pride ourselves on giving independent unbiased Buy to Let Advice on a coaching basis or through our (very occasional) group seminars.

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Using On Line Portals to Find Tenants

You can advertise on all the main property portals like Rightmove and FindAProperty to Find Tenants and /or have someone Find and Manage Your Properties by clicking this link to: Upad.co.uk.

As a LettingFocus customer quote LF001 for a £10 discount per property advertised. In no time your property will be on all the main portals.

Landlords Insurance

For products such as landlords rent guarantee cover and property insurance from UKInsuranceNet click on Buy to Let Insurance. Don’t forget to quote our reference code  -which is LFOC to get the best rates from them if you contact them by phone.

Copyright of Blog: David Lawrenson 2010.

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