No landlord wants an empty property, but sometimes it happens, and according to insurer Direct Line for Business, it can take a landlord 22 days on average to find a new tenant.
Here are our top six tips on how to reduce void periods in your rental property.
Deal with maintenance issues as and when they arise
Part of being a good landlord means dealing with issues swiftly. If you don’t have time to do this, invest in property management and let an agency look after this part of the job for you.
Set the right rent
One of the reasons rooms lie vacant can be because the rent has been set too high. Whilst you’ll want to be competitive, research the local market and get a professional valuation before you decide what to charge.
What makes your property stand out?
Are utilities included? Is the property fully furnished? You could also think about offering a discount on the first month’s rent, or a free Sky package. Adding value to your property is a brilliant way to reduce void periods.
It’s important to make a rental property feel like home. Offering flexibility in terms of decorating and DIY is one of the best things you can do to make your property more appealing.
Know your ideal tenant
Knowing who your ideal tenant is will speed the process up. For example, if you prefer non-smokers or aren’t willing to accept pets, make sure this is clear in the property listing to avoid wasting time.
Assured Rent services
Smart City Rooms’ Assured Rent service means that each month, landlords receive rent from Smart City Rooms – whether their property is occupied or not. So you won’t need to worry about being out of pocket during void periods! We’ll also completely manage the property, and find and deal with tenants.
Want to find out more about Smart City Rooms’ Assured Rent service? Give our team a call today on 020 7078 0215, or send an email to email@example.com.