We share our top tips for landlords to help ensure they are experiencing less void periods in their properties
First, make sure your property is correctly priced. Your agent will let you know the standard market rate and send you market comparables to ease your mind.
Second, be flexible. If you own a house with lots of bedrooms and usually look for families, think about groups of professionals instead. If you’re worried about renting to friends remember that four mature thirty-somethings are an entirely different demographic to those ten years younger. Also, think about accepting pets. You can build clauses into your contract, so if the sofa does get slightly damaged, the tenant is liable to pay for the damage.
Next, make sure your property is up to scratch. If you’re aiming to get top quality tenants in, you’ll need to provide them with a beautiful home. Check to see if your current tenants have any issues, and get those sorted ASAP. After all, the chances are if your current tenant has an issue, the new one will too.
If you have current tenants, give them enough notice to tidy up the property before you have photos taken. It’s important that the property imagery is up to date and attractive in order to bolster appeal.
You could also think about introducing short-term leases to fill void periods. If you usually let your properties to students who want to begin a lease in September, rent your property to those on short-term work contracts or people on extended holidays for two months during the summer.
You can also ask why your current tenants are leaving. If you’re increasing the rent and they’ve decided to move due to the financial constraints of continuing the lease, work out whether it is worth your while for them to stay. Responsible tenants do make letting property a lot easier, and you could try to come to an agreement and continue the lease.
Finally, check your marketing. Here at Stirling Ackroyd, we utilise a variety of print and online marketing tools to make sure the right people are seeing your property, for example, by advertising your property on portals such as Zoopla and Rightmove. Ask your agent to talk you through the efforts they undertake to get people in to your property.
If you have any questions about letting your property, or simply want to know more about the areas we let property get in touch