{"id":21922,"date":"2020-04-29T15:03:13","date_gmt":"2020-04-29T15:03:13","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=21922"},"modified":"2020-04-30T14:14:27","modified_gmt":"2020-04-30T14:14:27","slug":"tips-for-landlords-to-avoid-void-periods","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/tips-for-landlords-to-avoid-void-periods\/","title":{"rendered":"Tips for Landlords to Avoid Void Periods"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">As a landlord, you can\u2019t entirely eliminate void periods. However, long vacant periods may cost you as you will still need to pay council tax, insurance, and mortgage interest, not forgetting that you miss on rental income. Thus, it\u2019s in your best interest to minimize these void periods and <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/4-things-to-look-for-in-a-good-tenant\/21909\/\"><span style=\"font-weight: 400;\">hold on to good tenants<\/span><\/a><span style=\"font-weight: 400;\">. Here are tips you can use to help you keep vacant tenancy periods short.<\/span><\/p>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-21923\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2020\/04\/Capture-17.png\" alt=\"\" width=\"517\" height=\"344\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">Vet Your Tenants\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">You\u2019re going to entrust your property to your tenants, so it makes sense for you to want to know who they are. Besides, you want a tenant who you can build a good relationship with. This is why using recommended <\/span><a href=\"https:\/\/www.portico.com\/private-landlords\/online-letting-agents\/\"><span style=\"font-weight: 400;\">online letting agents<\/span><\/a><span style=\"font-weight: 400;\"> or <\/span><a href=\"https:\/\/www.thehouseshop.com\/tenant-referencing\"><span style=\"font-weight: 400;\">vetting tenants<\/span><\/a><span style=\"font-weight: 400;\"> are essential.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Vetting allows you to find the best tenants for your property. When vetting, ensure you\u2019re as thorough as possible. Some of the things you\u2019ll need to consider in your potential tenant during vetting include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Their background\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Past rental history<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A reference from their previous landlord<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A <a href=\"https:\/\/www.thehouseshop.com\/tenant-referencing  \" title=\"credit check\">credit check<\/a><\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Their employment status<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Moreover, a simple Google search can give you a lot of information about a person. Most people under 30 are on Facebook, Instagram, LinkedIn, Twitter, and their online social interactions can tell you a lot about their personality.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Keep Tenants Happy<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Tenants will only stay if they\u2019re happy and feel that their needs are being met. Having a good relationship with your tenants ensures transparency and encourages them to communicate in case of any complaints.\u00a0 Here are other ways you can ensure your tenants are happy and satisfied:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Quick response to issues<\/b><span style=\"font-weight: 400;\"> \u2013 If a tenant contacts you due to something that needs replacing or repair, ensure you act quickly. Any conflicts among tenants should also be resolved promptly. This shows tenants that they can rely on you to solve their issues.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Be on top of maintenance<\/b><span style=\"font-weight: 400;\"> \u2013 Tenants want to live in a <\/span><a href=\"https:\/\/www.justdoproperty.co.uk\/why-is-property-management-so-important\/\"><span style=\"font-weight: 400;\">well-maintained property<\/span><\/a><span style=\"font-weight: 400;\">. You can use void periods to keep up with on-going maintenance or <\/span><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/best-advice-for-decorating-your-new-home\/21897\/\"><span style=\"font-weight: 400;\">decorations to your property<\/span><\/a><span style=\"font-weight: 400;\">. Or, if it\u2019s winter time and you\u2019re worried about pipe\u2019s freezing or break-ins,\u00a0 use a <\/span><a href=\"https:\/\/www.housesitmatch.com\/\"><span style=\"font-weight: 400;\">house sitting service<\/span><\/a><span style=\"font-weight: 400;\"> while you search for a new tenant. You should also schedule periodic maintenance to ensure the homes of your long-term tenants are up to standard. Regular inspections and maintenance save you the cost of doing significant, expensive repairs in the future.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Don\u2019t set your rent too high<\/b><span style=\"font-weight: 400;\"> \u2013 Your rent should be competitive. Otherwise, you\u2019ll always have vacant units. If you want to raise your rent, be reasonable, and let your tenants know in advance. You can use online rental valuation calculators to find out if you\u2019re charging the correct rent.\u00a0<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" class=\"aligncenter size-full wp-image-21924\" src=\"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2020\/04\/Capture-1-9.png\" alt=\"\" width=\"515\" height=\"340\" \/><\/p>\n<h2><span style=\"font-weight: 400;\">Advertise<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Renters are out there, but they won\u2019t know of your vacant units if you don\u2019t advertise where they are looking. This is the same when it comes to looking for <\/span><a href=\"https:\/\/www.followupboss.com\/blog\/free-lead-generation-ideas-real-estate\"><span style=\"font-weight: 400;\">leads or homebuyers<\/span><\/a><span style=\"font-weight: 400;\">. The easiest and cheapest way to advertise is to use online <a href=\"https:\/\/www.thehouseshop.com\/let-for-free\" title=\"letting agents\">letting agents<\/a>. Online letting agents can help you market your vacant units on the major UK property portals such as Zoopla and Rightmove, where there are millions of prospective tenants looking for their next home. Moreover, online agents are cheap as they offer a flat rate fixed fee.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Offer Incentives<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Offering incentives to your new and existing tenants gives you a competitive edge over other property owners. Think of something unique you can offer your tenants that properties in your neighborhood aren\u2019t offering. Here are some ideas you can consider:<\/span><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li style=\"font-weight: 400;\"><b>Early payment discount<\/b><span style=\"font-weight: 400;\"> \u2013 Give a discount to your renters who <a href=\"https:\/\/www.thehouseshop.com\/rent-on-time\" title=\"pay their rent\">pay their rent<\/a> days before the deadline. A discount that is as small as 1% can make such renters stay longer.<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Flexible lease terms<\/b><span style=\"font-weight: 400;\"> \u2013 Offering flexible lease terms can entice a new tenant or keep the current one. Examples of flexible terms include the approval to have pets, the ability to sublet, especially to students, or the ability to break a lease within a month\u2019s notice.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Discount on first month\u2019s rent<\/b><span style=\"font-weight: 400;\"> \u2013 If you have a large apartment complex, you can consider offering a discount to your first-time renters. You can also consider spreading the security deposit to the first three months rather than asking your renters to pay all of it in the first month.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><b>Rent reduction for longer lease terms<\/b><span style=\"font-weight: 400;\"> \u2013You can offer a discount for lease agreements that are longer than a year or two. The reduction will be a small price to pay compared to the costs you incur when you have a vacant unit.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Keeping your current tenants happy is one of the easiest ways to reduce rental voids. However, if a tenant moves due to unavoidable circumstances, ensure you advertise your vacant unit asap on the major property portals, you stage your property to look welcoming but a blank canvas, and you also offer incentives that new renters will find hard to turn down.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As a landlord, you can\u2019t entirely eliminate void periods. However, long vacant periods may cost you as you will still need to pay council tax, insurance, and mortgage interest, not forgetting that you miss on rental income. Thus, it\u2019s in<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/tips-for-landlords-to-avoid-void-periods\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[10,16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/tips_for_landlords_to_avoid_void_periods","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21922"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=21922"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21922\/revisions"}],"predecessor-version":[{"id":21925,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/21922\/revisions\/21925"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=21922"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=21922"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=21922"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=21922"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}