As a landlord, you want to make sure your rental property is let and generating income for you as much of the time as possible. Of course, it would be ideal to have a tenant who looked after your property beautifully, paid their rent on time without fail and wanted a long term tenancy. Unfortunately, the reality of being a landlord is that you have to cope with less than ideal tenants and void periods where your property is empty. So, how can you give yourself the best chance of letting your property quickly and limiting voids?
For most people looking to find a house to rent, the internet is the first place to look. Whether through a mobile, laptop, or computer, it’s hard to imagine a property hunt that does not begin with an internet search. Because of this, one of the best things you can do to let your property quickly is to list and advertise it online.
The online market is one that should be used to its fullest potential. One of the best ways to do this is through an estate agent who has access to the major online portals to market your property. Using an agent like Seddons to let and manage your property is an easy way to promote it to the widest possible audience and find tenants quicker.
When to advertise the property is also key to minimising your void period. Choosing an agent to manage property for you means that the property can be advertised as soon as your current tenant gives notice, sometimes being able to line up a new tenant without the property even being advertised. A managing agent will also be able to ensure a smooth checkout is carried out and prepare the property for the new tenants.
The more people you engage with, the more potential tenants you reach. In today’s world, social media has an unparalleled ability to get the word out about your property.
Post about your property on Facebook, Instagram, and Twitter to publicise it – you never know who could see the post. Better yet, use the platform of an agent like Seddons to reach even more people. Estate agents are happy to promote your property on social media if they are letting it. The benefit of an agent’s post is that they are likely to have a larger reach than an individual social media user.
Make sure that your property looks as attractive as possible when potential tenants see it. If another tenant has recently moved out, make sure the property is as clean and empty as possible following their departure. Keeping decorations neutral and modern is best as it helps potential tenants to imagine themselves living there. It can sometimes be tricky showing new potential tenants around before existing tenants have moved out, although this is the best way to avoid a spell where the property is unoccupied. Again, consider placing the property with an agent, they will be able to arrange and attend viewings on your behalf through the day when you may find it difficult due to work commitments etc.
If your property has been on the market for a while, without much interest, it may be worth looking at the rent. Doing a little research into competitive rates is always good to ensure that both you and the tenant are getting a good deal. Sometimes, considering a reduction can help to secure a tenant more quickly. It may be worth getting a little less per month if it means getting the rent in a month earlier!
Getting an agent to do a rental valuation is a way to take the guesswork out of setting rent. A good agent who knows the local market will know the right rent to ensure that it is attractive for both potential tenants and the landlord. Seddons offer a free rental appraisal so you can get the most out of your property – contact us to find out more.
Once you’ve found the right tenants, one of the easiest ways to limit void periods is to keep them! Establishing a good relationship with tenants can be invaluable. Make sure the property is well maintained and be reactive to any repairs.
A managing agent can help in achieving this. The experience that an agent like Seddons brings can make the difference between a happy, long-term tenant and losing a tenant.
Although it is impossible to guarantee an occupied property all of the time, taking these easy steps can maximise the chances of letting the property. Seddons offer a wide range of property management options that can make the process of letting your property even smoother – contact our lettings department to find out more.