Tips for avoiding void periods
Here are some tips for minimising void periods:
Rental costs are an important factor for many tenants, particularly during periods of economic uncertainty. It is sometimes better to have void periods filled than to hold out for a rent increase. Make sure that you research the rent levels in the local area.
Build Good Relationships with Tenants
Landlords can help foster a good relationship by making sure they fulfil basic obligations such as giving tenants at least 24 hours notice before requesting entry to the property for viewings or maintenance work. Try to negotiate renewal of the tenancy in good time. This will ensure that if you need to replace the tenant you have ample time to market the property.
Make the Property as Attractive as Possible
This means carrying out regular maintenance, repairing or replacing any damaged or outdated fixtures and fittings, and making sure the property is attractively decorated with an appropriate standard of furnishing.
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