The lights are on but nobody’s home.
There are many different ways of looking after an empty property. Putting lights on timers, asking a neighbour to pop in and clear the post, nipping backwards and forwards to open the curtains at random times of the day. That’s all well and good if someone is going on holiday for a couple of weeks but what’s on offer for those whose property will be vacant for extended periods of time?
There is a niche in the market for professional property management solely for vacant periods.
The realisation that lettings can still apply to homeowners not wishing to rent out their property is finally dawning. Reaching out to non-landlords is essential during times when the private rental sector is booming and void periods are either non-existent or kept to a bare minimum. Working professionals who have to travel for business, corporations that own property, overseas nationals who have a base in London and second home owners who have the luxury of a holiday residence in the UK are all requesting professional assistance during vacant periods.
The beauty of vacant management? There are no tenants in situ. The service is still involved – undertaking regular property inspections to check for anything amiss, such as water leaks or power failures, organising for any gardens to be maintained and even booking boiler services or maintenance works – but as the ‘tenant’ is employing the agent directly and is living away from the property, the exposure to risk is lessened.
Sounds appealing, doesn’t it? It’s a great string to your property management bow but we believe that there is such a growing demand for this type of service that many letting agents might not be able to deliver what they promise. There is an alternative, however, in the shape of outsourcing.
Choosing a trusted outside company to pass vacant property management on to is a reality and can be seamlessly integrated into any property management or lettings business. Outsourcing is a great way to take on more business, reach new sectors of the market and increase profit with minimum effort.
If you’d like to know more about managing vacant periods and the possibility of outsourcing, contact ARPM Outsourced Lettings Support today.