The Opportunities having an Empty Rental Property can Create

Private Rental August 6th, 2018

The Opportunities having an Empty Rental Property can Create

By Rose Jinks

With summer coming round once again, some landlords may find themselves with an empty rental property for a range of reasons. Just Landlords, a provider of 5 Star rated Landlord Insurance, highlights the opportunities that this can create.

Whether your rental property is empty because your tenants are on holiday, you’re awaiting new tenants, or are doing some work on it while the weather is good, you can certainly make some progress when it comes to maintaining your investment when it’s vacant.

Just Landlords has the following tips for any investors who currently have an empty rental property:

Communicate with tenants

If you have a good relationship with your tenants or plan to complete/have completed a periodic inspection over the coming weeks, it’s worth asking them if they’re going to go on holiday this summer. This enables you to find out whether your rental property is going to be vacant for a period of time.

Before your tenants go away, ask them whether they’d be happy for you to visit the property to keep a check on it. If they are, make sure to get their permission in writing.

Look after the property

Following on from the last point, it can be comforting for your tenants to know that someone is keeping an eye on their home while they’re on holiday. For you, as a landlord, it’s a good chance to ensure that your rental property is safe and secure, by completing regular checks.

If your rental property is empty for other reasons, you should also ensure that you visit regularly, so that you can complete inspections.

Complete some maintenance

During a tenancy, any time that the property is vacant is the perfect opportunity to complete any maintenance work that needs doing. To ensure that you keep your property maintained to a high standard, look over past periodic inspection reports to make sure that you tackle the right issues.

For those who are completing work between tenancies or while the property is unoccupied, make sure to focus on making the rental desirable to prospective tenants in the future.

Take fresh photos

It’s important for landlords to always have up-to-date photos of their properties, whether they’re planning to put them on the lettings market in the near future or not. Properties can quite quickly look outdated or dull, so take some fresh snaps if your tenants have done something nice with the place.

Of course, if you are looking to market your property soon, it’s essential that you have professional photos that will make your rental stand out on the market. After completing some maintenance tasks, you will have a new opportunity to take fantastic pics.

Although an empty rental property throws up plenty of prospects for landlords, you must still be aware of keeping it protected. If your investment is vacant for a significant period of time, you may need specialist unoccupied property insurance to cover it.

 

Periods of vacancy can be one of the most stressful times for a landlord – no one wants to be missing out on potential income. With Arthur Online, your void periods will be lower than ever thanks to our integration with Zoopla, Rightmove and StuRents. Find out how you can link Arthur Online to your social media accounts and boost your engagement with potential prospects!

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