We all know that people move on, buy their own home or circumstances can change, therefore the end of a tenancy cannot be avoided all together. Consequently, there will be times when you need to find replacement tenants but this is nothing to be afraid of.
Platinum Property Partners (PPP) have a superb support system and great tools to ensure success – with occupancy rates exceeding 96% on average.
Here are 5 top tips for making the process of filling rooms quickly and efficiently, helping to reduce your rental voids:
1. Advertise ASAP: Don’t wait! As soon as your current tenant gives notice to leave, start advertising for new tenants.
2. Set the right rent: Research other rental properties locally to make sure you are offering a competitive rental rate that will be attractive to potential tenants. Value for money is key.
3. Add value: By offering a guarantee that the room will be professionally cleaned and any repairs, repainting or replacements will be completed before the moving in date, you can start to forge a great relationship with your new tenants.
4. Choose the right tenants: Wherever possible, try to select tenants that you know will be happy to call your property home. Ensuring new tenants are a good ‘fit’ with the rest of the people in your property will help maintain a harmonious house and remember carrying out thorough referencing is essential.
5. Be organised: When you do have a new tenant interested you don’t want any delays in the start of their tenancy. Make sure you have an efficient system for getting all documents, keys, utilities information and financial checks done efficiently.
Our PPP models stresses the importance of being organised, we support our franchise partners and support them in their planning, to ensure a quick turnaround of tenants at the end of tenancy.
Remember offering your tenants a consistently high level of service and support means that if they do decide to leave, it won’t be due to anything you did or didn’t do, assuring you fantastic feedback.
