Ideally, landlords don’t want void periods. When you have a void period, you don’t generate rental income, and this means you don’t bring in any money. If you depend on rental income to pay your buy-to-let mortgage, a period with no money coming in could place you at risk. Therefore, you should do what you can to minimise the impact of void periods.
However, if you do have void periods at your rental property, it is vital you maximise the return from this time. If you make the right changes at the property, you can set yourself up to deal with a better standard of tenant while improving the rental income you receive each month.
When a tenant is in your home, you often don’t have the chance to carry out major improvements. Therefore, when the rental property lies empty, you have an excellent opportunity to impose a new style on the place, and take care of the tasks that have been left unfinished for far too long. We are pleased to say we have helped many Petersfield landlords improve their rental property, and we have some tips which will likely be of benefit to you.
Carry out a deep clean in void periods
When the rental property has been cleaned to a high standard, you can be confident about attracting tenants. When potential tenants look through listings and see photographs of your property looking fantastic, they will stop scrolling and start paying attention to what you offer.
This may help you reach out to a better standard of tenants, or you could even charge a higher rental fee. It is vital you maximise the potential return of your property, and having clean rental premises is a fantastic way of achieving this goal.
Another strong benefit which comes from cleaning the rental property to a high standard is it increases the likelihood of your tenant maintaining this high standard. If a rental property is messy when the tenant moves in, they are not motivated to clean the property. However, if they enter a spotless property, they are far more likely to maintain this high standard. In the long-term, this provides you with less work to do, and it should better maintain the standard and condition of your rental property.
We know hiring a professional cleaning company to carry out a deep clean at your rental property incurs a cost, but it also provides benefits. If you are looking to increase your returns, this is a smart investment, and we can help you arrange the cleaning process at your property.
Carry out safety tests
You must ensure you offer a safe rental property. When you don’t have a tenant in place, you have an ideal chance to welcome qualified engineers to carry out tests. Your property should receive an annual gas safety test and if you supply electrical appliances in the rental property, it is worthwhile having these tested too.
If you are a Petersfield landlord and you need assistance letting or managing property, contact Williams of Petersfield and we will be happy to help.