AVOID A VOID
Void periods can be a real headache for landlords- not only can it cause a huge dent in their pockets with loss of rent and utilities to pay for but it is also a worry having a property sat empty, especially in the winter months.
Here are some top tips on how to avoid a void:
- Presentation- Make sure the property is well presented in terms of decoration, it is de-cluttered, has neutral carpets/flooring, modern furnishings if appropriate and that the kerb appeal is good. For more detail on these points please refer to our blog below:
- Good marketing- Make sure marketing photos are accurate, clear and show the property in its best light. A good agent will be able to take good photos and have the ability to perform technical editing. They should also be prepared to go and take new photos if needed to try and increase interest levels. It is also important to make sure property descriptions are good- not too bland and not too glorified. A bland description will mean the property is not noticed and a glorified one will mean applicants are disappointed on the viewing.
- Be flexible- Try not to be too judgmental and dismiss tenants because of scaremongering. Don’t disregard good tenants with a good history just because they have a dog for example- the dog may not be left alone if one of them doesn’t work (or can take the dog to work) and they may even be able to get a pet reference from a previous landlord.
- Perform thorough referencing- Make sure your potential tenants are carefully referenced. Remember if you pick a tenant in a safe profession like teaching or a healthcare professional for example, then they are less likely to need to move on or lose their jobs.
- Don’t fall for the overinflated rent quote- You may want to try your property at a bullish rent for a few weeks but be prepared to drop it if there is little interest.
- Treat tenants with respect- A good professional relationship with you tenant is very healthy and generally means they will be happier and stay for longer periods. If there is a simple maintenance problem that needs fixing, then take a look at it- this not only means happier tenants but also prevents small problems turning into major problems over time.
- Use your instinct- If you feel nervous about a tenant then there is probably good reason for it- when it’s one of your biggest financial assets, don’t take the risk.
If you would like some advice about letting your property then please contact Laura Fiddes-Baron on 0121 445 7410 or firstname.lastname@example.org.