A voided property is one that is currently not occupied. In most cases, these periods of time don't exceed a couple of weeks or a month, but there are cases of truly unfortunate landlords, who have seen their apartments and houses stay empty for months repeatedly. This can be a terrible situation for most landlords and a near catastrophe for others. Those who don’t have enough external income to support the mortgage on the property can easily find themselves being forced to take extreme measures like re-mortgaging their own property, which has the additional risk of then putting their own home in the firing line. If you were to add a business that has been tied to the same account into the mix, the property could act as the catalyst for additional financial turmoil.


With this considered, most landlords will do their finest to prevent a property void from getting out of hand. They do this by following a few straightforward rules that they'll follow without the need for an initial financial outlay. The most apparent one is not pricing the property out of the market. A new culture of deal hunting comes out of the recession and it doesn’t stop at the retail markets, property is seeing the effects of it too. Numerous landlords don't understand that, especially in the current economy, they can't always demand the identical amounts as two or three years ago and the price of the rent should reflect the fluctuations in the market.


Several tenants plan to leave a property because they're not happy with the state of the property or because they have a bad relationship with the owner. This means that to improve the probability of the tenants staying, the landlord has the liability to keep the property in good order and maintain a good connection with their tenants. If presented with an issue, may it be something that needs repairing or if it’s a fresh request for a new addition to the house, the landlord should take just about everything into consideration, whether it has a financial cost attached or not, and try their best to find an friendly solution. By offering to spread the cost of the missed rent over a two month period, the landlord is reassuring their tenant that they grasp mistakes are made and that they still trust them. Although the landlord may have lost some money short term, by having faith and a little common sense, they have secured themselves for the long term.


If the property does get voided for a while, the landlord should consider this as a good possibility to make the property more desirable. During this time, the walls can be painted, the bathroom and kitchen refitted and structural modifications can be made, without needing to worry about bothering the people living in the property.