Rental void is a word no landlord wants to hear. If a property has sat on the rental market for a while and standing vacant, it’s a double financial hit. Due to no rent, you still have to pay the outgoings and expenses associated with the property, including mortgage payments and maintenance bills. Additionally, an old property advert will make the property look even less appealing if not managed correctly!
Plus, an empty property, especially during winter, can deteriorate. An essential part of protecting your buy-to-let profits is keeping void periods to an absolute minimum.
Although the long-term average annual void in the UK is around 3 weeks, it recently dropped to 10 days in England, main thanks to the shortage of stock and high demand. However, there are significant differences between the regions; for instance, the average void period in the South-West is as low as 5 days, while it’s a high 17 days in the West Midlands.
5 ways to avoid rental voids in Bury
So, what can you do to ensure that your property beats the average and has as few days as possible in the year when it’s not let? So, here is Cardwell’s Local Estate Agent in Bury – 5 ways to avoid rental voids in Bury.
Exceed your tenants’ expectations
Today’s tenants expect good quality, modern fittings and fresh, neutral décor. A fast Internet connection is essential, and we’d also recommend you accept pets as long as they’re well-behaved and suitable for the type of property.
Also, it’s worth remembering that many tenants nowadays are looking for a long-term home where they see themselves staying for several years, not just short-term lodging. So, the more you can provide for what people are looking for, the longer they are likely to stay. In doing so, you are less likely to worry about voids.
Have Professional and Early Marketing IN BURY
Also, our letting agents Bury UK have 360° virtual viewings, so tenants can explore and get a feel for the property no matter where they live. Therefore, only allowing viewings to take place for tenants who are serious about the property.
Furthermore, our estate agent Bury UK provides professional floorplans and have premium listings on Rightmove and Zoopla to reach as many potential tenants as possible.
Be realistic with your rent
Keep up with regular maintenance and quickly fix issues
As well as your legal responsibility to keep your property in good condition and respond quickly when problems are reported, your tenants will appreciate your promptness and look out for their comfort and well-being. A tenant is far less likely to move if a landlord looks after them, and a low turnover of tenants means much lower average annual voids in Bury.
Go the extra mile
Check in with your tenant now and then to ensure they’re okay and see if there’s anything they need. Ideally, this should be in person when making your periodic checks. Sometimes a tenant might need an item of furniture which you haven’t already provided. As long as their request is reasonable, it’s often worth providing what they need.
To find out more contact Cardwell’s rental property agency Bury UK
