The majority of landlord guides cover the things you should do when you have tenants in your property. That makes sense considering that the way you treat the tenants you have dictates everything from your rental income now to your reputation in the future. Failure to pay due attention here could even leave you on the wrong side of the law and facing both lost rent and legal proceedings. So, you’ve probably done plenty of research into how you can adhere to landlord regulations and forever keep your occupants happy.
But, we’re not here to talk about those standards. Instead, we’re going to discuss something less rental guides consider - the time between tenants. The rental market is pretty fast-moving, after all. While you may be able to hold onto tenants for a year or two, the chances are that you quite often have to handle periods of notice and empty months in your property.
Rather than being a chance to kick back, though, your landlord responsibilities should stay in full swing during these times to keep your efforts here on track. Before you put your feet up, then, consider the following factors you must take care of the moment your property is empty.
Consider whether you’re happy to continue
When you’re locked into six or twelve-month contracts, it’s sometimes impossible to see your way out of being a landlord. When you’re between tenancies, though, you’re in a position to think about your long-term rental plans without legal backlash. As such, these periods are a prime time to consider whether you’re genuinely excited about continuing your landlord journey. If you decide that you aren’t, you can then sell without having to worry about tenancies running out or leaving anyone without their home. Even better, companies like We Buy Houses can buy your property upfront so you don’t have to go without while you pursue the traditional housing market. That way, you could break free of renting without leaving yourself out of pocket or doing any tenant wrong.
Get stuck into repairs
Aside from basic repairs, you probably don’t bother much with the house when you’re renting it. Continually sending trades people could, after all, become an imposition on tenant lives. When your property is empty, though, you’re free to embark on all the rental property upgrades and repairs your little landlord heart desires. This can extend the life of your rental, while also guaranteeing you can ask for the highest possible amounts of rent when you do put your property back on the market.
Make the house a home
You may also want to take this chance to decorate. The rental market is pretty competitive, after all, and tenants can take their pick of properties. By making your house feel more like a home when you get the chance, you can give yourself the edge over other landlords out there. Don’t hesitate, then, to get your paintbrush out and spruce things up so you can earn again in no time.
About the author
Matt Angerer is the Founder and President of VerticalRent. He enjoys writing on a variety of topics that help Landlords, Property Managers, and Renters across America. He is particularly interested in helping renters understand their local marketplace, pick the best places to live, and find an awesome roommate. Since 2011, VerticalRent has grown to service over 100,000 landlords and renters across America.