Loading...

What not to do in-between tenancies

What not to do in-between tenancies

Untenanted properties can be frustrating for landlords. Not only do they create a sense of unease about future income but they also tend to feel like a lost opportunity to generate a return on investment. As a result, it's often tempting to focus on other things in-between tenancies and avoid thinking about it. However, the reality is that this is a time of opportunity that smart landlords don't waste.

Landlords: avoid this one thing in-between tenancies

It's not rocket science but the one thing not to do in between tenancies is: nothing. If your previous tenants have just moved out then this is a great time to reacquaint yourself with the property and see if there are changes that could be made to help you secure new tenants quickly. So, as soon as the check out inventory has been carried out for the last tenants ‐ and the deposit amount agreed and returned ‐, there are a number of positive steps that landlords can take before the next tenancy agreement is signed.

  • Carry out maintenance. Basic property maintenance at regular intervals will prevent serious repairs being required further down the line. Savvy tenants today will make judgments about a landlord based on how well a property has been maintained and many are simply not willing to rent where there is evidence of neglect. When the property is empty it's easy to either go in and carry out maintenance yourself or to pay someone to go in and do it for you.
  • Deal with any outstanding repairs. Perhaps you didn't get around to fixing the broken guttering or wobbly door handles. Or maybe the last tenant ruined the carpet and the cost of replacing this has come out of their security deposit but you haven't fitted it yet. It's much simpler to carry out repairs when the property is empty because you don't have to give notice or work around tenants' lives. Leaving repairs outstanding could be costing you new tenants and may also affect the amount of rent you can charge.
  • Upgrade the property. Few landlords have a lot of extra cash for upgrades but some smart spending could bring to an end a period of the property standing empty. It may also enable you to put the rent up. Replacing carpets, repainting walls and digging the garden are all simple upgrades that can have an impressive impact for potential new tenants.
  • Think about preparing the property for viewings. If your property is not generating much interest from viewings, you can turn this around by dressing it for success. These are just some of the details that tenants have told us matter when it comes to property viewings:
  • Cleanliness and space ‐ is the property recently cleaned and clutter free?
  • Bathroom and kitchen ‐ these are the key rooms for tenants. Little touches that can make a big difference include new blinds, removing mould or mildew, new mats and shower curtains and well tended plants. These don't have to be bought ‐ borrowed work just as well.
  • Furniture ‐ even if you're renting the property out unfurnished it may be useful to hire coordinated pieces for viewings to give the property more appeal and inspire tenants to want to live there.
  • Little details ‐ if you're planning multiple viewings in a short period of time, fresh flowers, a welcome mat, even the smell of coffee can all work wonders on tenants looking for a home.

Rather than waiting until you secure a new tenant, we always recommend using the down time in between tenancies constructively. If you'd like advice on maintenance or repairs ‐ or to use our interiors upgrade service ‐ get in touch.



Services

Residential lettings
We pride ourselves on being genuine industry experts, providing a positive experience, from enquiry to after care. Storeys focuses exclusively on lettings, and we value properties, we don’t just list them. Knowledge and innovation mean we can be competitive on costs while also delivering an individually tailored service.
Property management
Storeys is a bespoke offering based on the fundamental principle of value for money – we want happy customers. Paperless tech and eSigning deliver efficiency and convenience, no high street office minimises costs. The result is a streamlined service nimble enough to tailor what we do to suit your needs.
Valuation
Aesthetics, natural light, building quality, and overall finish – these aren’t ‘extras’ in a Storeys valuation, they’re as much a part of the process as size, condition and location. We look at individual property potential, not generic criteria. Factors like space for modern living arrangements, such as flexible working, are incorporated too. Our valuations are all the more accurate and successful for it. There is a perfect tenant for every property if you know how to find them.
Short-term lettings
Providing value for tenants and continuity for landlords, Storeys short-term lets run from 4 weeks to 6 months. We work with major London relocation teams and a global contacts network to match international tenants to perfect London properties.
Vacant property Management
We can manage your vacant property in-between tenancies or refurbishment, giving you peace of mind that the property is being looked after and inspected on a regular basis.
Superior Marketing
There is just no comparison between static photos and VR when it comes to property marketing. VR allows tenants to do a virtual walk around and get a realistic feel for the property - their expectations are grounded in reality, and properly managed. This makes VR a very effective tool, not just for generating interest and viewings but also converting those to offers. That’s why we partner with VRPM to create a virtual reality perspective for every property we handle.
Airbnb Management
We can manage your Airbnb account and make sure each booking runs smoothly, keys are always available for handover and the property is ready for the next occupation. This can run very well alongside our short-term corporate letting service.
Rent Protection
If your tenant defaults on the rent, Storeys have you covered. We also cover your legal expsenses and pay you rental income if your property is vacant whilst we remarket for new tenants. Don’t worry Storeys have your back.*ask a member of the team for more info. This service is included for every Storeys managed property.