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Wednesday, February 04, 2015

Tips on avoiding rental voids

UK rental voids For landlords the biggest drag and drain on resources is always the curse of the rental void.

Luckily for landlords rental voids are near a historic low.

Classic tips on avoiding a rental void are:

1. Don't be greedy on the rent. Don't hold out on unrealistic rental demand. This is a classic mistake made many newbie landlords. The reality is that they will never get back the lost rent of a void.
2. Keep pushing the market - make sure you keep pushing your letting agent and look for other ways to market your property outside the big property portals for fee
3. Always make sure your rental property looks it's best before marketing it for letting. Tenants are easily put off and in an increasingly competitive market they won't come back
4. If the rental property starts to stick on the market consider using rental incentive like free sky

Having said all this NEVER EVER let to tenants who you are unsure about without the back up of rental guarantor. If the tenancy goes wrong a small rental void will pale into insignificance compared to the massive costs of getting possession of your rental property and the costs of getting your rental investment back on track.

Rent guarantee insurance - specialist brokers - internet rates

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