How to Avoid Void Periods

If your rental property is empty and there’s no rent coming in, this is a void period. You’ll want to keep any voids to a minimum as you’ll lose rental profit for that period of time, and you’ll still need to cover any outgoing costs associated with the property yourself – like bills and mortgage payments.

So, how can you make sure your property is let out for the majority of the year?

Exceed expectations

Your tenants will want good quality furniture (if offered furnished) top-notch fittings and fresh, neutral decoration throughout. A good Internet connection is important too and consider accepting pets if your property is suitable.

Remember, lots of tenants will be looking to rent for a long period of time, so offering exactly what they want from a home, the longer they will want to stay, meaning fewer void periods.

We’d be happy to offer advice if you are looking for new tenants.

Marketing

To attract the best tenants, you need to have the right marketing – from the listing to the viewings.

Some examples are…

High-quality photography, so your property stands out from the get-go

Video tours, this way tenants can fully explore the property and you know your booking viewings with tenants who are serious about your property 

Professional floorplans

Listing on property portals

Realistic rent

Obviously, you’re going to want to get the highest possible rent, but if your listing is overpriced, a majority of tenants will just bypass it. Rental prices are quite consistent and are set by the market. Talking to a local agent will help you to price your property correctly, so it should let quickly and help stop long voids in-between lets.

If the suggested rent is a bit lower than you want, try to think of the income you’d be missing out on if the property sits empty for long periods of time.

Ways to keep existing tenants happy:

Keep on top of maintenance and fix any issues that arise quickly.

It’s your legal responsibility to make sure the property is in good condition and act quickly if any issues are reported. Not only will your tenants feel like you’re looking out for them, but they’ll also be happy and want to stay in the property for longer, and fewer tenants coming and going means less voids.

Go the extra mile

You should check in at least once a year to make sure your tenant is doing okay and doesn’t need anything. These should be in-person checks, as it will give you a chance to not only check that your tenants are happy but that your property is also being looked after. If your tenant has a reasonable request, it’s worth providing what they need.

If you’d like to chat about reletting your property, feel free to get in touch with our team here, and we’ll be happy to book a free rental valuation.