Mind the gap - Tips on avoiding rental voids
Posted December 2nd 2023
As a landlord, one of your biggest challenges is minimising the time your property sits empty between tenants.
These void periods are a financial drain and can lead to increased maintenance costs.
Fortunately, several ways exist to minimise these gaps and keep the rent flowing in and your tenants happy.
Efficient advertising
When you learn that a tenant plans to move out, start your advertising campaign. Utilise a mix of online platforms, local bulletin boards, and social media to reach a broad audience. High-quality photos and a compelling property description can go a long way in attracting potential tenants quickly.
Streamlined vetting process
Time is of the essence, so make your tenant vetting process as efficient as possible. Pre-screen applicants by asking key questions about their employment status, rental history, and the reason for moving. This initial step will help you weed out unsuitable candidates and save valuable time during the formal application process.
Flexible viewing hours
Potential tenants often work 9-to-5 jobs and may find attending weekday viewings challenging. Offering flexible viewing times, including evenings and weekends, will help you engage more prospective tenants and fill the void faster.
Quick repairs and renovations
As soon as your current tenant moves out, get started on any necessary repairs and upgrades. The quicker you can make the property move-in ready, the sooner you can welcome a new tenant. Always have a reliable team of contractors you can call upon to accelerate this process.
Let an agent do all the work
An expert local letting agent becomes your greatest ally in preventing void periods. They can do all of the above, adeptly handling advertising, vetting, and viewings and using their experience to keep your property occupied and profitable. Beyond filling vacancies, they can offer invaluable advice on property management, maintenance, and local market trends—saving you time and safeguarding your investment.
If you want to avoid the dreaded voids, contact us today, and we’ll explain what we do, how we do it and why it works for our landlords.
