6 Top Tips for Effectively Managing Empty Properties + Long Refurbs

The Property Nomads Podcast

In this podcast, Rob explains how to manage properties that you think are going to be empty for a while. Either because of long refurbs or because of a tenancy changeover. Including, handling energy companies and the council.

Rob also briefly covers taking advantage of green schemes to improve the property further at a lower cost. Including a potential pitfall that you need to factor in when deciding whether to do this or not.

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KEY TAKEAWAYS

• Investigate whether switching energy tariffs will benefit you.
• Look out for energy companies automatically switching you to an emergency tariff after a month or two.
• Try to get off of the emergency tariff if you do get put on one.
• Be proactive about the council tax. Check it and ask for a discount if a property is empty.
• Even if you use an agent, don´t rely on them handling things like final meter readings properly.
• Insist that date-stamped photos are taken of meter readings when tenants leave, and when new ones move in.
• Make a note of tenancy change over dates, so you can deal effectively with energy suppliers and the council.
• Make it clear to the tenant that even if they get up and leave before the tenancy ends, they are liable for the bills for the full duration.
• Take advantage of any available improvement grants.
• With green schemes be aware of how long it may take to get the insulation done and consider if that is likely to keep the property empty for longer.

BEST MOMENTS

‘Be productive and switch tariffs if you´ve got a long refurb or the property becomes empty for a while.’

‘Make a note of tenancy change dates.’

‘Take photos of your meter readings (when changing tenants).’

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Buy to Let: How to Get Started – By Rob Smallbone (Amazon)

ABOUT THE HOST

Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.

Buckle up, sit tight, and enjoy the ride that is life.

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