Landlord advice for winter months
Helpful hints from ESPC Lettings Manager Orlaith Brogan
The Edinburgh rental market is buoyant at present with lots of rental properties changing hands and tenants moving in and out. The market does get quieter over the winter months with fewer tenants looking to move so it is beneficial for landlords to be proactive in order to minimise any possible void periods over the quieter winter months. As always, ESPC lettings is here to help...
Landlord guide video
Watch this useful video, produced by ESPC, which features me (ESPC Lettings Manager) talking through some great tips on how to get through the winter months as a landlord.
My top tips
Have a look through my top tips on how to get the most out of your rental investment this winter.
Check your lease
Always check your lease for the lease end date. When does it end? If over the winter months, we need to be prepared. If your tenants are on a lease with a fixed end date it is easy to identify when they are due to renew or vacate the property.
However, if your tenants are on a rolling basis, they may be able to provide two month’s written notice to vacate the property. For instance if they provided two months’ notice on the 10th of October, their lease could end on the 10th of December.
Communicate with your tenants
If your lease is due to end over the quieter months or they are on a rolling basis, it is advisable to contact them as soon as possible to see if they would like to extend their current contract and ensure that they are happy in the property.
This can be done via phone, e-mail or at the next property inspection.
If your tenants do hand in their notice and leave the property it is advisable to move as quickly as possible and market the property as extensively as possible.
Tenants often search online more over the winter months and rely on excellent photography shots and descriptions.
To minimise void periods, we recommend that you remain flexible with rental price. It is often better to negotiate slightly to secure a tenant than to have a larger void period in order to secure only slightly more a month in rent.
Remember that you are also responsible for the council tax and utilities during these void periods.
Manage turnovers effectively
Ensure that you manage the checkout of the previous tenant and check in of the new tenant effectively.
Organise any improvements promptly during the void period and ensure the new tenancy starts on the right foot.
ESPC Lettings here to help
To talk more about your property to let or to become a landlord with ESPC Lettings, do email me at email@example.com or give me a call for an obligation free chat on 0131 2532847.