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Reducing Void Costs for Wembley Landlords

Owning a rental property isn’t just about what happens while tenants are in place; effectively managing periods when your property is unoccupied is equally important.

Reducing Void Costs for Wembley Landlords
Every landlord faces void periods as a natural part of property letting, making it essential to prepare financially and strategically to manage its impact.

Void periods mean not only the loss of rental income but also the burden of continuing to pay the mortgage, utilities (including standing charges) and council tax without money coming in from tenants.

It was once common for local councils to offer a grace period for council tax on empty properties, but with budget pressures, these reliefs are increasingly rare.

Here are some ways you can manage and minimise void periods.

Financial preparedness: Always have funds set aside to cover expenses during unoccupied periods.

Council tax awareness: Stay informed about your local council’s policies on empty properties to budget effectively.

Proactive maintenance: Use the notice period to enhance the property and carry out any necessary decorative or remedial works to bring the property back up to scratch and make it more attractive to future tenants.

Insurance considerations: Ensure your insurance covers void periods and consider additional policies for longer voids.

Tips to protect your property investment

Continuous maintenance: Keep your property in top condition to attract and retain tenants.

Be responsive: A good relationship with your tenants can encourage longer stays.

Professional assistance: Consider employing a letting agent to manage the property, especially if you’re short on time and need an experienced expert.

Seasonal planning: Recognise the challenges of letting during quieter periods, such as Christmas, and plan accordingly.

Contact us
At Grey & Co, we’re here to help Wembley landlords thrive, offering comprehensive property management services to minimise void periods and maximise your rental yields.

Get in touch to learn more about how we can help you.

Thanks for reading,
Abigail & the team at Grey & Co

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Meet Abigail

0788 952 1209
abigail@greyandco.co.uk

  Hello, my name is Abigail, and I am the Grey in Grey & Co. I started working here in 2002 as a Junior Negotiator and have worked my way up the ranks since then. I took over running the company in 2014 and have been enjoying the roller coaster that is leadership ever since.   During my 20 plus years at Grey & Co I have dealt with the sale of over £100,000,000 worth of property and overseen the management of assets worth £250,000,000 for clients around the world.   I also had the pleasure of working with my father, the founder of Grey & Co, for 15 years before he sadly passed away and from him, I learnt the work hard ethic and our values today are still the ones that he founded the company on all those years ago.   Be Remarkable, Be Passionate, Be Humble and Be Better.   As a community centric boutique family agency, you couldn’t find a better partner to take with you on your property journey.

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