Landlord Advice: Avoiding the 'void' periods
There are, unfortunately, times when a property isn't tenanted and this is commonly known as a 'void' or 'vacant' period.
We all agree that this is far from ideal - not only is valuable rent not being paid but there is nobody to keep an eye on things should a maintenance issue arise. So how can you try to avoid the void?
Here are some top tips that might just make the difference:
- Is your asking rent is competitive?
- Is the property is being presented in the best possible condition? Would a fresh coat of paint or a new carpet raise the appeal?
- Is an ARLA licensed agent is helping you let your property? If they are already, make sure you chose one who has experience renting a property like yours too.
- If a lower offer is made consider the whole picture. For example, it might be a lower offer than you’d hoped for but may come with a longer fixed-term period.
- Have you contacted your insurance company to let them know? Many companies reduce policy cover for vacant properties.
Most importantly, listen to your agents' advice. We can tell you about market conditions and what rent levels and rent periods are realistic at that particular time. Please feel free to contact us if you require any advice.
For further informtion please contact our office on 01280 704808.
Alex Britchfield | Partner | Davies & Partners