5 ways to reduce rental void periods

Don’t leave your landlord’s property empty with void period. 

If your landlord’s property is empty, that means that they will not be generating an income. Also you will not be making any commission. Some landlords need their expectations managing, and it is your job to do this. Help let their property quickly with these tips.

1. Suggest they reconsider their situation.

Ever landlord wants to achieve the highest possible rent that they can. Fact. But if you have a landlord that will not budge on the rent they want to achieve, are they willing to leave the property empty for five months to achieve this? It is often worth taking a hit on the rent in order to rent it quicker. Calculate how much rent they would lose over a 12 month period by taking a lower rent, and you will probably find that this amount is less than one months rent. Providing mathematical evidence will help your persuasion tactics.

2. Coerce your landlord to be less specific.

If your landlord is being particularly picky on the type of tenant that they want, this could be influencing how quickly their property is being let. Remind them that this is a business arrangement so they should take their heart out of it if that is causing unnecessary obstacles to secure a new letting.

3. Ask them to take a step back.

It is easy to get used to a property, glazing over any problems if you are used to them. So take a step back together to look at the property in a fresh pair of eyes. Does it need a quick coat of paint? Are furnished properties more in demand? Give your landlord a quick update on the market and tenant demands in order to help them secure a new tenant.

4. Assess the competition.

In any market there is competition. Tenants often have the pick of the bunch. By providing your landlord comparable evidence in the way of other properties that have let or are on the market, will help them to understand why their property is not letting whilst other ones are. Concrete evidence will help to alter their expectations as to what they hope to achieve.

5. Revisit the marketing strategy.

It is easy for a property to get lost in listing if it is not given the attention it deserves. Would a new set of photographs help? Does the description need updating? Take a look at how the property is being marketed and consider taking it off the market before relaunching it with an updated strategy.