Recent figures released by the National Landlords Association demonstrate that void periods are finally decreasing, despite many landlords considering them to be a threat. With this in mind, Rick Flay at Belvoir Sheffield, the leading letting agent in Sheffield city centre, is helping to instil confidence in the lettings market with some impartial advice on avoiding the void.
During the last three months of 2009 the percentage of landlords experiencing voids over a 12 month period dropped from 55 per-cent to 52 per-cent. The findings also stated that the average duration of voids has fallen from 19 to 17 days.
Despite the reported decrease in void periods, over half of landlords questioned are still considering the void period to be a very real threat, especially when teamed with a distinct rise in rental prices.
Rick Flay, director at Belvoir Sheffield, who offer a wide range of property to rent in Sheffield, said, “Although these statistics are good news for landlords, the threat of voids still remains imminent. In these harsh economic times property void is a huge problem that is plaguing many property landlord. Here at Belviour Sheffield we specialise in helping landlords abolish the possibility of voids.
“Here at Belvoir Sheffield we currently we are renting properties on an average within 9 days of putting them on the market. We are inundated with enquiries from landlords keen to avoid such ‘void periods’ so we are offering our top five tips set to help those most in need.”
1. Ensure that the price is right.
The price has to attract potential tenants. It must be competitive with properties in the area. Don’t hold out for the extra few pounds at the cost of having an empty property, accepting a lower payment is better than no payment at all.
2. Pay attention to the added extras.
Replacing old technology or worn out appliances with the latest flat screen television, broadband or furniture will all help make the property seem appealing to tenants. The more unique selling points you have the better.
3. Accept viewings at anytime
Don’t let a bit of maintenance get in the way of viewings. Many tenants see the prospect of newly decorated property a huge plus. It also shows you are keeping the property well maintained and up to date. Belvoir Sheffield organize viewing from 8am until 8pm seven days a week.
4. Keep the property natural
Painting the property in neutral colours and adding large mirrors to the main living areas, will make the property appear bigger and give the viewer a blank canvas to work with. Too much clutter is not appealing.
5. Ensure your letting agent responds promptly to leads
Ensure that your letting agent replies to any contact from potential tenants promptly and answer any concerns or questions they may have. If you aren’t quick you will lose out!
Belvoir Lettings Agents Sheffield are the One Stop Specialists for Lettings including Property Management, Tenant Find, Investment, Mortgages and Wealth Management Advice, Fit-outs and Renovations, Furniture Packs and Investment Property Insurances.
