The trick is to make any void periods as short as possible. Here are some of the ways in which you can achieve that:
• Let to the right tenants. This is always a key factor in any tenancy. Ideally you will want someone who is likely to stay for the long term. Short term lets are the ones that cause most headaches and frequently lead to voids. Good communications and a good relationship with a long term tenant are vital.
• Inspect asap. If a tenant gives notice, carry out an inspection as soon as possible. You need to ensure the property is in a fit state to be let again and to deal with any necessary damage or repairs.
• Budget carefully. On average a property is likely to be let for eleven out of any twelve months. It is crucial, therefore, that you budget to cover the void period.
• Carry out early viewings. If the tenant has given ample notice it should be possible to carry out viewings with potential new tenants. It is best to keep the existing tenants aware and to give them plenty of notice prior to any viewings.
• Market early. If you cannot carry out early viewings then make sure your marketing is ready to go the moment your tenants move out.
• Prepare documents. Make sure you prepare any documents in good time, such as energy performance certificates.
So planning and budgeting are the key factors to consider. Ideally, though, it is worth putting in the extra high quality customer service to build good tenant relationships which evolve into long term lettings. I specialise in this and would be happy to discuss how I can achieve this for your tenants.