What is a void property?

What is a void property?

A ‘void’ can be defined as a property, which does not have a legitimate tenant. A property may become empty following the death of a tenant, the abandonment of a property or a tenant transferring to or buying another property.

What is a void inspection?

Void or vacant property inspections are a requirement for both residential and commercial units. When a property is left vacant there is often a legal requirement for it to be regularly inspected to meet preconditions of insurance policies.

What are void costs?

A void period counts as a cost, along with insurance premiums, mortgage, maintenance, lettings agent’s fees, and service charges (if you’re not the freeholder). Have a clear idea of your ideal tenant. Or at least, of those things you definitely don’t want (like pets).

What is void loss?

A void is a property for which there is a current rent account but no current tenancy exists. While a property is void rent is lost during the void period.

What is a void period?

What is a void period? In a nutshell, a void period is a time when the property is empty, and therefore not generating any rent for the landlord. Even though there is no tenant, bills and other costs will still apply, such as mortgage repayments.

What is a void Manager?

Responsible for managing the Voids repairs and maintenance service and assisting the Repairs and Maintenance Manager to delivery improved performance particularly increasing customer satisfaction, ensuring work programme targets are achieved, assisting with dispute resolution, monitoring work quality and introducing …

What does void work mean?

Empty council properties are called ‘voids’. An average of five properties a week become empty and are handed to the Repairs Team to inspect for any maintenance works required before they are re-let. The property will be secure. The property will be free from rubbish inside and out.