What is void property management?
A void in housing terms is a property that is untenanted for a period of time. So, in an ideal world, a void property would not exist. Because of this, most housing providers have policies and procedures in place for void property management. These are to ensure that loss of rental income, security and repair costs are kept to an absolute minimum.
Properties can be empty and therefore become void, for a handful of reasons. Abandonment of a property, a tenant’s death or because someone is waiting to move in, are just a few examples.
We realise that with the empty properties losing rent but still accumulating council tax and standing charges, your finances are taking an unnecessary blow. This is why we offer a service to manage this process. If you have any properties that are void, get in touch to find out how we can help.
In order to make the void property management process as simple as possible, we have partnered with Scottish and Southern Energy (SSE) to provide an online void property management scheme. This is to ensure that the rental income, security and repair costs are kept to an absolute minimum, making sure that it takes care of smooth utility transition for new tenants once they occupy a void property. In a similar way, SSE also handle pre-payment meters and can arrange for keys to be provided to clear any outstanding debt. All you need to do is upload your details onto the Monarch customer zone.
Delivering these services should be at the core of the housing industry, due to:
1. Arguably, most importantly, the landlord’s reputation. Tenants may be wary of the dissatisfaction levels.
2. Successful use of social assets: so landlords can ensure that tenants do not have to wait longer than necessary to move into their new, maintained empty home.
3. The rent and revenue are maximised: this may affect the financial viability of the landlord in the longer term.
4. Ensuring good value for money: the landlords need the best possible prices for void works. This is done by monitoring the average costs of the work compared to the satisfaction levels.
5. Effective asset management: leaving properties empty can result in higher maintenance costs due to increased repairs of mould and damp etc.
Void property management benefits:
• No standing charges for up to 90 days
• £15 fuel allowance per meter for maintenance work
• Tenants only pay for the energy that they actually use
• Less people required to manage voids since SSE handle any objections to transfer/outstanding debt issues
• You will have a dedicated account manager
• the online portal means the process is simple, with no paperwork
• You only have to deal with one energy supplier
Should you need a step-by-step guide to understand the process, our handy booklet explains the online portal: click here.
We make void management as efficient and easy as possible. Our cost-effective solutions not only improve your bottom line, but add real value. Feel free to contact us if you need any void management assistance.