Avoiding voids

Buying your own home is a great achievement, but it’s not the route everyone wants to take, and that’s where we come in. T1property offer rental accommodation all over Portsmouth for all kinds of tenant demographics. As we are one of the most celebrated businesses excelling in room to rent Portsmouth has, you can depend on us to find you the perfect home.

For a landlord, buy-to-let can initially seem like a guaranteed way of making a profit. The rise in house prices means more individuals are renting, offering more opportunities to find the right tenants, however, it’s likely that there will be some bumps along the way. Lengthy void periods in particular are something to watch out for.

This might seem obvious, but a property typically only generates income for a landlord once it’s tenanted, and void periods can severely damage a landlord’s ability to keep up with the mortgage payments. One way to reduce void periods is to ensure that when tenancy agreements are being drawn up, they are as water-tight as possible, reducing the possibility of voids dramatically.

If a potential tenant only wishes to live in the property for a short amount of time (for example, less than 6 months), then it might be worth considering others for the room/property. After all, the empty period won’t do you any favours. If students will be living in the property for a mere nine to ten months and not the full year, it might be in your best interest to offer a seasonal worker or a foreign student a short-term summer let deal instead.

At T1property, we give insightful and friendly advice to both tenants and landlords. We keep communication open at all times, informing landlords and tenants alike of any developments and letting them know about any changes to be made to the house, or contractor visits to the property etc. This attention to detail has helped us to become the best known company for room to rent Portsmouth has.

To find out more, contact us today.