A Glastonbury landlord rang me this morning unhappy that one of her tenants had just given her notice to terminate their tenancy and she is now looking for her 3rd tenant in 18 months. The landlord questioned if this was the norm.

At the last count there were 758 private rented properties in Glastonbury though I think with the recent growth in the local population and the rental market I would put this number today very close to 800.

Between June and August this year just 42 Glastonbury properties came to the rental market. My research and experience suggests the average Glastonbury tenancy currently lasts 4 years 8 months. Compare this to 3 years 9 months in Street, 3 years in Shepton and just 2 years 5 months in Wells.

Renting a property means that tenants have no long-term commitment. Whilst tenants will have a contract stating the number of months they are permitted to live in the property it’s still a lot easier to move elsewhere compared to what it would be if they were a freeholder for the property. With this flexibility for tenants comes the uncertainty for landlords who, beyond any term certain, can never be sure how long a tenant will stay.

Voids (times when the property is untenanted) impact a landlords overall rental yield. While they are a reality of the rented sector, there are simple steps that landlords can take to help reduce the chance of a property being untenanted for extended periods. These periods without occupancy can also give a landlord a useful window to carry out routine maintenance and any additional work to make a property more attractive to tenants.
Here are some tips for landlords:

1. Set realistic rents
While rental properties are in high demand in many parts of the UK, this is not a guarantee of back-to-back tenancies. As well as asking the advice of a letting agent, it is also worth doing your own research to find out if the level of rent you are charging is suitable for the area. Trying to squeeze the last penny of rent out of a tenant comes with a warning – if you charge a tenant top dollar rent they will expect top dollar service in terms of repairs etc. Also, given time the tenant will realise they may be able to get better value elsewhere. Remember that the overall cost of an extended void period can outweigh the perceived loss associated with setting a sensible rent, which may also make the property quicker to let.

2. Foster good relations with your tenant
You have a greater chance of establishing a good relationship with your tenant, and your tenant may be more likely to stay in the property longer if you:

  • Respect the tenant’s right to quiet enjoyment of the property and except in cases of emergency always give the tenant a minimum 24 hours notice in writing of visits to the property
  • Carry out periodic inspections of the property to identify defects or opportunities to improve the property
  • Address tenant repair requests promptly

    • 3. Make the property desirable
    Ensuring the property is in good order could help make it more desirable, meaning it will be easier to let and may even mean tenants want to stay longer. While tenants have a duty to look after internal fixtures, landlords are generally responsible for the repairs, unless the damage is caused by the tenant, as well as the structure of the building, the exterior and the roof. In addition to this, a landlord must ensure heating and hot water installations, sinks, baths and other sanitary fixtures are maintained to a reasonable standard. Further decorating and furnishing the property appropriately, and to a good standard, may help it stand out for potential tenants.

    4. See a ‘void’ as an opportunity
    While it is important for landlords to keep up to date with necessary repairs, a void period could provide a good time for non-essential, intrusive maintenance and improvement works to be carried out, with no disruption to tenants. This could, in turn, make the property more attractive for potential tenants.

    5. Hire a letting agent
    A good letting agent can help guide you through the day-to-day complexities of being a landlord and also share the work in finding tenants, meaning you will have less work to do when a tenancy comes to an end.

    About Tom Morgan

    Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk