For supported housing providers, securing properties through leasing schemes is crucial to delivering long-term accommodation solutions. However, many providers struggle to acquire properties because they unknowingly fall into common pitfalls. If you want to ensure your leasing scheme succeeds, there are three critical mistakes to avoid. By understanding and addressing these, you can build strong relationships with landlords and acquisition teams while ensuring a steady flow of properties into your portfolio.
1. Giving a Vague Specification
One of the biggest reasons leasing schemes fail is a lack of clarity in property requirements. While your specification can be flexible, being vague will leave landlords and acquisition teams uncertain about what to source. When you don’t define what you’re looking for, you create inefficiencies, wasting time on properties that don’t fit your model.
What Happens When You’re Not Clear?
- Landlords lose confidence in your ability to follow through.
- Your acquisition team wastes time sourcing unsuitable properties.
- You miss out on high-quality properties because others act faster with clear requirements.
Solution
Be specific. Outline the type, size, and condition of properties you need and any non-negotiable features. If you’re flexible, define the range of acceptable options instead of leaving it open-ended. A well-defined spec ensures landlords and agents know exactly what to offer you.
2. Being Slow to Respond and Provide Feedback
The property market moves fast, and landlords have multiple offers at any given time. If you take too long to respond or fail to provide timely feedback, you’ll quickly lose out to more decisive competitors.
What Happens When You’re Not Clear?
- The best properties get snapped up by other buyers.
- Landlords see you as unreliable and stop prioritising you.
- Agents and acquisition teams divert their efforts elsewhere.
Solution
Act with urgency. If you receive a property offer, acknowledge it immediately and provide quick, constructive feedback. If a deal isn’t right, say so promptly so landlords and agents can bring better opportunities. The faster you engage, the better your chances of securing quality properties.
3. Focusing on Your Own Interests and Ignoring the Landlord's Needs
A leasing deal must work for both parties. If you only focus on what you need—rents, lease terms, and conditions—without understanding what the landlord wants, you’ll struggle to close deals.
What Happens When You’re Not Clear?
- Landlords feel like they’re getting a bad deal and walk away.
- Trust and long-term partnerships never develop.
- Your scheme gains a reputation for being one-sided, making future deals harder.
Solution
Make it a win-win. Take the time to understand why a landlord might lease to you. Are they looking for a hands-off investment? Guaranteed income? Reduced risk? Address their concerns and structure your offer to solve their problems. A landlord-first approach makes deals far easier to secure.
Conclusion
If your leasing scheme is struggling to acquire properties, it’s likely due to one (or all) of these three mistakes. Landlords and acquisition teams won’t know what to find without a clear property specification. If you’re slow to respond, you’ll miss out on opportunities. And if you ignore landlords’ needs, you’ll never secure the deals you want.
The solution is simple: Be clear, quick, and landlord-focused. If you implement these three principles, your leasing scheme will thrive, and you’ll build long-term partnerships that ensure ongoing success.