How to reduce void periods and keep your property let

A void period—when a rental property is unoccupied—can be costly for landlords. Reducing these periods is essential for maintaining consistent cash flow and minimising losses. Here are some practical tips for keeping your property let and reducing void periods.

1. Set the right rent price

Setting the right rent price is crucial to attracting tenants quickly. Overpricing can discourage potential renters, while underpricing may not yield the best return.

Tip: Research local rental prices to ensure your property is competitively priced for the market. Regularly review the rent to stay in line with local trends.

2. Market your property effectively

Effective marketing ensures that your property gets maximum exposure. With many potential tenants searching online, make sure your property is listed on the most popular rental platforms.

Tip: Use high-quality photos, write detailed descriptions, and highlight key features like location, amenities, and any unique selling points. Social media can also help reach a wider audience.

3. Keep your property well-maintained

A well-maintained property not only attracts tenants but can also reduce the time it sits vacant. Tenants are more likely to stay in a property that is in good condition, reducing the chances of a void.

Tip: Perform regular inspections, address maintenance issues promptly, and make improvements that increase appeal, such as fresh paint or updated appliances.

4. Be flexible with lease terms

Flexibility in lease terms can attract a wider range of tenants. Consider offering shorter or more flexible lease options to meet the needs of different renters.

Tip: Offering flexible lease terms or allowing tenants to renew easily can increase tenant retention and reduce the chances of a void.

5. Screen tenants carefully

A thorough tenant screening process helps ensure you select responsible tenants who are likely to stay longer, reducing the likelihood of frequent turnover.

Tip: Check tenant references, conduct credit checks, and assess their rental history to find tenants who will care for your property and pay rent on time.

6. Respond quickly to tenant inquiries

Being responsive to tenant inquiries is key to filling your property quickly. Delays in communication can cause potential tenants to lose interest and move on.

Tip: Respond to inquiries promptly and schedule viewings at convenient times to keep the rental process moving smoothly.

Conclusion

By setting the right rent price, maintaining your property, and being flexible with lease terms, you can significantly reduce void periods. Effective marketing, thorough tenant screening, and responsiveness also play a vital role in keeping your property let.