Tips for landlords to keep your properties occupied!

Tips for landlords to keep your properties occupied!

Once you have decided to rent out your property, it is important to keep it occupied at all times if possible. If you don’t, the mortgage, council tax and any other bills will be coming straight out of your own pocket. Here’s a few tips to ensure you avoid any ‘empty property’ periods…

With a few tricks, great relationships, and some handy tips, you can make sure that your property is always making you a great profit yield. Here’s how:

 

Use long term contracts

 

Try and avoid six-month contracts where you can. Having people come and go more regularly can be quite disruptive and one-year contracts work much better for both landlords and tenants.

 

Once the contract is up, think about asking your tenants whether they would be interested in signing another contract – you don’t want to get into a rolling contract if possible, as it gives you less peace of mind, knowing they could up and leave at any time.

 

Move Fast

 

Once you know your current tenants are planning on moving out, try and visit your property as soon as possible to find out if anything needs fixing or replacing. Get quotes for any new furniture or appliances and book in contractors to carry out any work needed as soon as possible.

 

The best time to do up your property and give it a quick lick of paint is during the first week after tenants have moved out. This means the house will be available for viewings quickly, hopefully resulting in brand new tenants.

 

Look After Tenants

 

The easiest way to avoid an empty house is to look after your tenants as well as you can. This may sound obvious, but it is easy to just ask tenants to sign a few contracts, hand over the keys and walk away.

 

Build up a relationship with tenants and try and solve any problems they may have as quickly as possible. If your tenants do move out, having a good relationship with them means you can ask them what the reasons behind their move are. If it’s something that can be changed you can do so before any new tenants move in.

 

Advertise

 

If you do find yourself with an empty house, then good marketing and adverts can make a world of difference when it comes to finding new tenants. Choose a letting agent that can give you a great plan for your property, and already has a list of tenants on a database ready to match. 

 

You can also take matters into your own hands and put adverts on local notice boards, post information about your property on social media, and ask friends and family to let people know about your property through word of mouth.

 

Make it Easy

 

The best way to get new tenants is to make it as easy as possible for people to find out about your house, view it and subsequently sign a contract on it. Consider opening your house for an open day where as many people as possible can come and look at it.

 

Make applying for your house easy simple. If you have a large void of tenants at any point, it is possible your rental price is too high. Get some advice from a local agent about what price you should be offering and do your own research for similar rental properties in the area. You could end up saving money in the long run if it means you have less void periods. 

 

If you need help finding a new tenant for your property or are considering what you can do to avoid empty periods in the future, get in touch today for expert advice. 

 


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