When the fearful prospect of a rental property not being tenanted it’s called a ‘void’ or ‘vacant’ period. This is bad news for the landlord as this loss of income can be significant and if the property was purchased with a mortgage bad for the unsympathetic banking industry. The property may also fall into disrepair as there is nobody inhabiting it to notify stakeholders of damage.
To avoid the void, you should ensure that:
- Your rental price is competitive for the property type and location.
- Your property is being presented to prospective tenants in the best condition possible.
- You choose one of our ARLA licensed agents to help you let your property.
- If a respectable offer is made but it is a lower offer than you’d hoped for compromise by extending the fixed-term tenancy duration.
We provide vacant property management which includes the monitoring of alarms and heating systems, meter readings, forwarding post and additional services. If you are a looking to sell or let your property, then please call us on 0333 6000 060 to speak to a local property expert to arrange a free no obligation market appraisal
Correct at time of publication. The views and opinions expressed herein are those of the individual contributor and do not necessarily reflect those of the Chancellors Group of Estate Agents Ltd or its subsidiaries. References to legislation, best practice and other matters with legal implications such as fees, rules and processes are included for information and editorial purposes only and are not authoritative, nor should they be interpreted as advice. When in doubt you should only take advice from an industry professional or solicitor where appropriate. E&OE.