tenants landlords rent

This is the best time for landlords to advertise properties to tenants…

Shockingly, a third of tenants expect to find and move into their new home in just two weeks. So when is the optimum time a landlord should put a property on the market?

A survey by The House Shop has found that 31.2% of tenants aim to move into a new rental property within two weeks of making an initial enquiry to the agent or landlord.

And two-thirds of renters (63.8%) set the time limit at one month from making the first enquiry to getting the keys – meaning landlords wanting to attract the most attention should put their properties on the market one month before they will become vacant to have the best chance of filling the property quickly.

Avoid the void

Void periods can be a costly issue for landlords – whenever a property sits empty, it is costing money. With the average UK rental value now around £909, according to the latest figures from October, it can make a significant dent on landlord earnings, so reducing or avoiding a vacancy is the key to getting the most out of a property investment.

gap void

The data from The House Shop also revealed a peak in interest from tenants looking for last-minute properties in September, probably due to student term times. This is another factor landlords could consider to get their properties occupied quickly.

Nick Marr, co-founder of The House Shop, said: “For the 1 in 3 tenants who are expecting to actually move into their new home less than two weeks after they first make contact with the landlord – they will need to ensure that they are responsive, organised and thoroughly prepared.”

“Leaving just two weeks to get from start to finish is definitely achievable, but leaves little wriggle room to handle delays,” he added.

Longer tenancies

In the Autumn Budget, chancellor Phillip Hammond revealed that there will be a consultation on incentives for landlords to offer longer tenancies.

Not only would this provide more security for tenants, as rules are tightened to ensure they are treated more fairly, it could also help landlords as they would have longer gaps between the hassle of finding new tenants – again potentially reducing the number of void periods.

Simon Heawood, chief executive officer of Bricklane, said: “Some forward-thinking landlords have been offering more stable tenancies for a while now and it is a great win-win as tenants get greater stability, enabling them to feel more at home, whilst our investors have the benefit of higher occupancy rates.”

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT