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Vacant properties – How you can get new tenants to fill in the gaps

With more movers than ever, you might be worried about your properties being vacant, even for a short while. What can you do about it? Turns out, quite a lot!
Special offers, tips and tricks for improving the quick securing of a lease and ways to make the process easier can all reduce the amount of vacant time for your properties – here are our favourite options:

Redecorate

With so many moves, and with people moving from cities to the suburbs following and during the Covid pandemic, renters are more discerning than ever. They won’t settle for tired and rundown properties.  Opt for clean, neutral décor which can be easily touched up by tenants or yourself – it’s cheaper and easier to paint rather than wallpaper.  And, don’t forget to use the big brands – using easy-to-access paint colours and brands means that your tenants can easily “put things right” when they exit the property as well, even if they have added their own décor.  Gorgeous neutral décor will help reduce vacant time.

 

Run an offer.  

You can reduce rent, offer the first month free or offer no deposit options for fast move-ins.  You could also offer to include one or more bills for the tenants, in the rent – it’s not usually a lot of financial impact but can be the difference between one property or another.  Offers help reduce vacant time because the incentive is to move-in quickly and can set you apart from other properties/landlords. 

 

Offer upgrade or incentive

Rather than offering money off, or reducing rent, which could impact you financially longer term.  You could offer to upgrade the white goods or pay for white goods which the tenant doesn’t have yet.  If the property is furnished, perhaps offer to purchase new mattresses for the beds before their move-in or offer a gift card to a local DIY store to help them with their requirements.  Incentives are there to help you encourage a fast move-in and reduce your vacant time. 

 

Not only can these things encourage faster move-ins and quicker turnarounds; but Offers and Incentives can also be used to encourage longer tenancies as well.  It’s all about how you position your marketing.      

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