In recent months we’ve seen an increase in the number of residential landlords keen to secure a tenant without advertising the property to the general public. This is resulting in a rise in the number of off-market deals, so what’s driving the trend?

Economic uncertainty is leaving some homeowners who are keen to move with a choice between selling now or holding back and letting their property for a year or two. It’s these so-called ‘accidental landlords’ that are influencing the current market as they tentatively explore the possibilities.

There are plenty of benefits to off-market letting, and privacy tends to be the key motivation. Off-market doesn’t leave a digital footprint – a landlord can discreetly test the rental market without any record of the property’s marketing history being stored online.

The current level of demand outweighing supply has also contributed to this growing trend in off-market lettings.

Depending on the target demographic and the market conditions, off-market properties can even command a premium. We often see strong proposals put forward by tenants eager to secure the property before full marketing begins, while more privacy or security-conscious tenants place extra value on the fact that the photos and floor plan haven’t been in the public realm.

If you like the sound of letting off-market, here are a few tips: 

• Photos and floorplans remain key Off-market doesn’t mean no marketing material – images, a floorplan and description are as important as ever. So long as the photos are an accurate representation of the house, you can use those shots for months and potentially years to come.  
  
  
• Make the opportunities count Off-market properties will generally get fewer viewings than those being fully marketed, so it’s vital to make those viewings count. Ensure the property is perfectly presented before viewings start, with gardens tidy and any obvious repairs and touch up work sorted in advance.
  
  
• Plan the timings The market can be seasonal, with the best time of year to offer your property for rent depending on the kind of property you have. Family homes let best in the early summer, as families relocate between school years, for example, while many of the of super-prime property rentals are done during the football transfer windows (between June and August; then during the month of January).
  
  
• Choose the right agent There’s little benefit in having your property off-market with an agent that gets all its tenants from the property portals. You’ll need either an agent with a strong database and/or the means to reach tenants through other avenues. Choosing the right agent is equally important for tenants – by registering you’ll hear about opportunities you might otherwise miss.
  
  
• Know when it’s the right strategy Going off-market won’t always be the right option. No matter how well-connected an agent may be, avoiding the property portals will naturally reduce the exposure a property gets. Generally speaking, the best results will come with a multi-faceted approach, using an agent's network and connections alongside the property portals to ensure your property is seen by as many prospective tenants are possible.

Further information

Contact Tom Burke 

Savills Letting or Renting

Understanding the Renters (Reform) Bill