In London’s fast-paced property rental market, even a short period with an empty property can be a crucial challenge for landlords. An empty or void, property means lost rental income, potentially reaching thousands of pounds per month. Fierce competition for tenants makes every vacant day a missed opportunity. This article explores the challenges of void properties and how InStyle Direct’s apartment furnishings solutions can transform your vacant property into a cash-flowing dream.
What is a Void Property?
A void property means a rental that isn’t currently occupied by tenants. It’s different from a vacant property – which might be awaiting a new tenant but hasn’t been officially advertised yet. The main concern with a void property is the lost rental income. Void units can create logistical challenges for landlords, such as increased security concerns and the need for maintenance checks on an unoccupied space.
Hidden Costs
Void units usually come with surprising hidden costs — property taxes still need to be paid and even minimal utility usage can incur charges. Maintenance expenses such as security checks, potential mortgage payments and repairs can also be added during a void period. Void periods often necessitate additional marketing efforts, including increased advertising costs, the time investment of conducting viewings and the risk of losing potential tenants who find a place that’s ready sooner.
Causes of Void Properties
Several factors can contribute to void periods, which include natural tenant turnover, unexpected maintenance issues and even seasonal fluctuations in the rental market. These void periods can harm a landlord’s overall return on investment (ROI).
Minimising Void Periods
Landlords can opt for proactive property management, efficient marketing strategies and responsive communication with potential tenants to avoid or reduce void periods. Offering short-term rent adjustments to fill vacancies faster is also worth considering.
The Power of Furnished Apartments
In 2023, there was a remarkable surge in the number of tenants seeking furnished apartments. Findings from CORT reveal that 77% of potential tenants would consider moving into a furnished apartment within the next 12 months. This marks a significant increase from 37% in 2022 and merely 25% in 2021.
Advantages of Furnished Properties
There are two key benefits to furnishing your rental property.
- Furnished properties cater to a specific market segment seeking convenience, flexibility and a hassle-free move-in experience. These tenants are often willing to pay a premium for the added value of a fully equipped home.
- Furnished apartments typically experience shorter vacancy periods, attracting a wider range of tenants, including business professionals on short-term assignments, students and individuals relocating on short notice.
InStyle Direct: Your Partner in Streamlining Rentals
InStyle Direct is a trusted partner for London landlords grappling with void properties. Through our holistic design approach, we create beautiful, practical and personalised living spaces. Our team of skilled designers, installers and craftspeople transforms empty spaces into stylish and comfortable homes that are instantly appealing to potential tenants. Our PRS furniture is guaranteed for the rental duration and our services include supply, delivery and installation, leaving your property ready for tenants to move in immediately.
Hassle-Free Furnished Apartment Solutions
InStyle Direct offers a range of popular furniture packages designed to make suites, Airbnb rentals and student accommodation rent faster and for the asking price. Our packages are created with target audiences in mind, ensuring your property stands out from the crowd in a competitive Build-to-Rent (B2R) market. We understand that speed is of the essence, which is why our furniture is readily available and can be delivered and styled quickly by our in-house team.
Maximising Rental Yields
InStyle Direct’s commitment to excellence ensures exceptional results and short void periods. Our design-led approach combined with high-quality furniture helps to increase your property’s value and appeal, ultimately maximising your rental yield. Many of our clients are repeat landlords and developers who’ve appreciated our ability to push the sale of properties in prestigious developments.
Case Study: Transforming a West London Apartment into a Profitable Rental
InStyle Direct’s commitment to speed and design excellence is evident in one of our successful collaborations with a London landlord:
A discerning owner/landlord looking for a good return on their £363,000 investment in a one-bedroom apartment in Grand Union, a modern West London development, commissioned our services. They aimed to create a stylish and inviting space to attract high-quality tenants quickly.
Our team installed and styled the Yellow Gold Furniture Package within 48 hours. The chosen design incorporated contemporary window dressings, a statement feature wall and a blue/mustard colour scheme—striking a balance between tasteful decadence and modern appeal. Within just five days, the apartment received two solid offers. This swift turnaround ensured the landlord secured a high-performing rental property, maximising their return on investment.
Conclusion
Don’t let void properties haunt your finances. InStyle Direct’s expertise and high-quality furnishing solutions can transform your space into a profitable rental property. We offer a seamless experience, from design consultation to installation — ensuring your property is ready for tenants to move in immediately.
Contact us today for a one-on-one consultation and discover how we can help minimise void periods, maximise rental yields and transform your investment into a cash-flowing success story. Visit our website (www.instyledirect.com) to learn more about our services and browse our furniture packages.
