According to research, UK renters spend an average of 18 months in a property before moving on and a landlord takes an average of 22 days to find a new tenant. The void period resulting will translate into an average of £547 loss of rental income. (source)

If you are in the situation of being a landlord, then you must have a plan in place for reducing the cost of void periods. Working with an expert letting agent like Caledonia Bureau ensures you keep void periods to a minimum.

If your property has been struggling to rent out recently, this is what you should be looking at:

Is The Property Priced Correctly?

There is always a fine balance between positioning the monthly asking price for your letting property too low so to lose income and setting it to high so to deter potential renters. That is why the advice of an experienced estate agent like Caledonia Bureau can make a big difference in your successful let. If priced correctly, your property will bring the right amount of interest and rent for the best possible price.

Is the Property in Good Condition?

A rental property needs to meet certain health and safety regulations by law, but beyond that, a property must look sparkly clean and in good working order to attract renters quickly.

Do You Offer Good Customer Service to Your Tenants?

If your tenants enjoy their home, they will be less tempted to leave. That is why at Caledonia Bureau we take every possible step to ensure renters are settled and happy. We try to encourage landlords to be flexible and accommodate reasonable requests as that will encourage overall good relations amongst all interested parties.

Do You Budget for Void Periods?

When calculating your income and expenses it is important to add some provisions for void periods. You might provision pessimistically, but then at the end of the year, you will have a nice surprise. At the same time, if tenants leave unexpectedly at least you are not left struggling.

Another way of dealing with the cost associated with void periods is taking landlord insurance, which can cover for void periods.

Is Your Property Correctly Marketed?

Working with Caledonia Bureau will offer you the peace of mind that you are extending a wide net across the rental market so your property has maximum potential exposure. We work with major property portals as well as have our own vetted database of potential clients. That will help find the right tenant as quickly as possible.

As one of the West of Scotland’s longest-standing estate agents, we have had lots of experience managing the ups and downs of the housing market in recent times, so you can be confident you’ll be in safe hands when working with us. With an expert team by your side and a variety of properties on offer, including both property to let and homes for sale, Caledonia Bureau are confident that we can match you with the right home. Give our friendly team a call today, choosing from our offices in Clydebank, Helensburgh, Dumbarton and Paisley.