There are many ways you can reduce the number of empty homes in your property portfolio. One of them is to make sure you use exit questionnaires. This applies to Registered Social Landlords (RSLs) as well as private landlords.
Why are your homes becoming empty so frequently?
Do you find yourself in a cycle of letting properties only to find 6 months later you are trying to find a new tenant? So why is this happening? You need to understand why you have the same homes becoming empty on a regular basis.
Use exit questionnaires to find out why tenants are leaving your homes
It is worthwhile getting tenants who are leaving or about to leave your properties to provide feedback. You may need to provide an incentive for them to do this. This could be a final month rent reduction or even some vouchers.
Basically, you need to understand more around the detail as to why these people are leaving your properties so quickly. It can be costly for you if you are constantly on the lookout for new tenants for these types of homes.
An exit questionnaire can provide insight as to why tenants are choosing to move on. To reduce the number of empty homes you rent you will need to gather this information.
Data collected may be able to help reduce the number of empty homes you have
You will soon know if there is a pattern. For example, they may not get on with the neighbours, they don’t like the area or there is something specific wrong with the property. You won’t find out this information unless you ask for it.
Investing in this sort of data collection and analysis is key. Whilst it may appear to be a time consuming exercise it may well be some of the best time and money you spend.