After bad debts, rental vacancy - the period of vacancy between two tenants - is the greatest fear of private landlords.
However, according to INSEE, France (excluding Mayotte) had some 36.2 million housing units on January 1, 2021, including more than 3 million unoccupied, i.e. a vacancy rate of 8.3%.
This data encompasses multiple scenarios, such as homes that are uninhabitable as they are, awaiting inheritance settlement, offered for sale or abandoned after leaving a retirement home.
But according to the National Institute of Statistics, this vacancy can also "come from a mismatch of supply with demand in terms of size, location, price, for example, or correspond to housing in poor condition".
To avoid this pitfall, your property must therefore be as attractive as possible.
Here's how to do it.
Choose the ideal property
The location of the accommodation is essential to attract potential tenants.
You will be much more likely to have regular occupants by favoring a property located in the city center of a large metropolis rather than by relying on a home far from all amenities.
Businesses, shops, public transport, schools and other green spaces are indeed all local services that will increase the interest of candidates.
On the surface side, be careful not to see too large at the risk of reducing your target.
Rental demand is primarily for studios, 1 room or 2 rooms, which attract students and young workers.
It is also in the interest of smaller dwellings to be rented furnished.
To be competitive
The attractiveness of a property means not to overestimate its rental price.
Find out about local market prices beforehand if you don't want to scare away potential candidates.
Outside of built-up areas located in tense areas, you also have complete latitude to adapt the amount according to the evolution of the situation.
If there are few offers and many requests, it will be easy to find an occupant, which should not however encourage you to be too greedy.
Conversely, if your property is drowned in the mass of housing on the market, it might be wise to lower the rent a little to be more competitive.
Impeccable maintenance
Do you want to keep your tenant as long as possible and limit the cost of maintenance?
So do not hesitate to renovate the home accordingly and to be responsive in the event of a problem.
Of course, it is necessary to go through a certain financial investment at the start.
However, modern, functional, well-insulated, healthy housing, offered with quality and clean materials can not only be rented more expensive than an old and deteriorated property, but it also encourages occupants to stay longer, while by limiting the lessor's maintenance costs.
Anticipation, the key word
In order not to be caught off guard, it is essential to ensure long-term follow-up of your occupants.
Ideally, you can arrange a small annual visit with your tenant to verify that the apartment is well maintained and that there are no particular concerns.
You can also take advantage of the lease renewal to offer this meeting.
Has the occupant informed you of his intention to vacate the premises?
Make an appointment with him as soon as possible to visit the accommodation, check if there are small repairs to be done or a lick of paint to give and take pretty pictures to prepare an attractive advertisement.
Maintaining a good relationship with your tenant will also make it easier for you to organize visits with potential candidates.
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Insurance not always efficient
In order to avoid holes in your cash flow, you can take out insurance dedicated to rental vacancies.
Most often, this clause is offered as an option in unpaid rent guarantee contracts (GLI).
But if the rental shortfall - the period of vacancy before the first rental of the property - is generally 100% covered, the wait between two tenants is rarely fully compensated.
Not to mention that a deductible that can reach between 1 and 4 months can also apply, all for a high price varying between 2 and 3% of the annual rent, charges included.
You should also know that the most advantageous conditions are reserved for owners who entrust the management of their property to a professional.
Lodging
Advice
Real estate
Economy
Rental
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