January 14

Reduce Void Periods by Making Your Property Appealing to All Tenants

Simple Solutions That Make Your Buy-to-Let Property Pop

Expensive void periods are often worse than they need to be because a property doesn’t appeal to a wide enough audience. The landlord sets up a property to appeal to young professionals. Or families. Or silver-haired renters.
By focusing on a single demographic, you limit your audience. And that’s likely to reduce competition for your property, which in turn reduces your potential rental price and makes it more likely that your void period will be longer.
Here’s the good news: you can set your property up to appeal to all types of tenants. You’ve just got to think about what people want. You’ll be surprised how many features appeal to most types of tenants.

Provide the Essentials

Most people who rent want the same as homeowners.
They want to live in a home that is warm in the winter and cool in the summer. That means central heating and air conditioning or good ventilation.
In the digital age, people want good internet access. High-speed broadband is crucial for the growing number of people who work from home. It’s also crucial for streaming favourite TV programmes and watching the latest movies online. Grandparents need a fast and reliable internet connection to stay in touch with their grandchildren.
People also want to feel safe in their homes, so lockable windows are also a good feature to include.

Kitchens and Bathrooms Will ‘Sell’ Your Property

Kitchens and bathrooms sell. New, sleek shower units and bathtubs make a significant difference to the appeal of your property as a home. New kitchen counters that coordinate with appliances and hobs look good and provide a practical purpose.
Upgrading a kitchen or bathroom can be expensive. The good news is that the greater appeal of your property is likely to reduce void periods and allow you to charge a higher rental price.

Tempt Tenants with Technology

Smart technology is changing the way we live. Other technologies can make people feel safer in their home. You should consider a range of technology that could appeal to many, such as:

  • Outside surveillance cameras in gardens, doorways and driveways. Tenants can view the exterior of their home from their living room or their place of work.
  • Smart heating and lighting can lower energy bills.
  • Voice assistants provide easy control over all aspects of a home, from heating to lighting to entertainment systems, and appeal to all tenants.
  • Smart locks offer extra security to tenants, by providing unique access codes and showing who has entered the property and when.

Make Maintenance Easy

One of the great benefits of renting is the lack of maintenance that tenants need to do. They expect that when things go wrong – as they will – they will be put right without fuss. Whether it is fixing a dripping tap, replacing roof tiles or repairing the boiler, tenants deserve their maintenance requests to be dealt with in a timely and professional fashion. Offering your tenants an easy way to report faults is key to ensuring tenants benefit from a maintenance-free home.

Be a Good Landlord

The appeal of your property as a home for would-be tenants is not only about the property. It is also about how the tenant is treated. You can show yourself to be a caring and welcoming landlord from the very first contact with prospective tenants. How you word your rental property adverts, your demeanour when conducting viewings, and the way in which you vet tenants says much about you.
If you act arrogantly or are difficult to speak to, prospective tenants will think twice before signing on the dotted line. This isn’t about becoming your new tenant’s best buddy, but you will need to be friendly and approachable while maintaining a professional manner. Sometimes you’ll need to be flexible, other times you’ll need to be firm – how you communicate is the key to keeping your tenants onside and building a good landlord/tenant relationship.
If you are using a property manager to manage the property for you, know that prospective tenants will search for online reviews posted by existing tenants.

In Summary

Location is important, but how you present your property to potential tenants could be the clincher. Think wider. Don’t set up your property to appeal to a narrow range of tenants. Provide what most people desire in their home, and you’ll appeal to more tenants.
The wider the appeal, the more interest you’ll have for your property. That interest should translate into greater competition, and that should allow you to get the best rent and reduce void periods.
Our landlord clients benefit from our network, with national and local reach – just a few reasons void periods suffered by our landlords are among the shortest in the UK. To learn more, contact Ezytrac today +44 0 1522 503 717.
Live with passion
Brett Alegre-Wood


Void Periods

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