Voids are simply unavoidable and most housing providers can expect to see a proportion of their homes becoming vacant.
A void is defined as a property that doesn’t have a legitimate tenant and can occur for several reasons. This could be because the property is awaiting a new tenant, a previous tenant has given notice and left the property, or the tenant has passed away.
This inevitability means that most housing associations will plan and budget for the costs that voids incur. Unfortunately, what they can’t predict is how long it will take to get a new resident into the property, with some organisations reporting that it can currently take more than six months to find a new tenant. When this isn’t taken into account, the financial impact can be huge.
According to recent data by the Department for Levelling Up, Housing and Communities, in October 2022 there were 676,304 recorded empty homes in England. This represented a 3.6% increase on the previous year’s total. Of these empty homes, 248,149 were classed as ‘long-term vacant’ properties (vacant for more than six months).
This presents a significant problem for housing providers, as in an ideal world they would want none of their properties to be voids. However, this trend isn’t showing any signs of slowing down, with empty homes in England rising by nearly 10% in the last five years.
In this article, we look at why it’s important to manage voids efficiently, the strategies for effective void management and the essential role of software in this endeavour.
Why is it crucial to manage void properties efficiently?
Void properties present a challenge for housing associations. Efficient management of these voids is critical for several reasons:
Sustainable neighbourhoods
Long-term voids can negatively impact the surrounding neighbourhood, attracting vandalism, squatting and anti-social behaviour. Ensuring properties aren’t left empty for too long means the community is more sustainable and higher repair costs are avoided.
Financial health
Void properties generate no rental income, while still incurring maintenance and security costs. The reduced rental revenue may impact the ability to meet repairs and other service obligations, leading to a greater financial strain on a housing association. This is why it’s important to reduce the period a property is void, so there is less time without revenue.
Housing demand
Unfortunately, in some UK regions, the demand for affordable housing far exceeds supply. Prolonged vacancies exacerbate housing shortages and prevent families and individuals from accessing much-needed accommodation.
Effective asset management
It’s vital to keep void properties in good condition, so assets remain habitable and properly maintained. Failure to do so will result in more repairs and maintenance costs, as housing associations have to pay for dilapidation and vandalism costs. This can lead to customer dissatisfaction and higher turnover levels.
Resident wait times
Long wait times lead to unhappy customers. Ensuring residents don’t have to wait too long can improve customer satisfaction and means less time is wasted having to repair and maintain a property that’s been left too long.
Strategies for effective void management
Void management is complex, which is why housing associations must ensure they are dealing with voids in the most efficient way possible. Efficiently managing void properties requires a strategic and coordinated approach. Here are some key strategies to reduce vacancy periods:
- Assemble a voids team: You need to make sure that you have the right people in the team to ensure the property is fit and ready for a new resident, and this means having multi-trade teams. This will make the entire process much easier and ensure the team is ready for action.
- Streamlined turnaround processes: Develop and implement standardised procedures for inspecting, repairing and cleaning void properties. A quick yet thorough turnover process is essential for minimising downtime. Ensure you get your targets and timeframes right.
- Pre-void inspection: This gives a housing association a good idea of the work that is needed and what is the tenant’s or organisation’s responsibility. This ensures that new tenants can be identified and moved in as soon as a property becomes available.
- Effective communication: Clear and regular communication with maintenance teams, contractors and prospective tenants is vital. This helps to promptly address any issues that may delay occupancy.
- Proactive maintenance: Regularly inspect and maintain properties to prevent major repairs. Addressing minor issues before they escalate can reduce turnaround time when a property becomes vacant.
- Pritotise: Focus on voids in certain areas, especially areas that have high resident interest. For example, if you have one flat in a popular area that you are certain will attract interest within a month, it would be better to focus on this property than a rural property that may take longer to find a tenant. It’s also important to balance void property work against other business objectives.
- Decoration vouchers: Instead of requiring a painter to paint the walls, you provide residents with vouchers to purchase materials and decorate the property themselves. This helps to improve void turnaround time.
- Monitoring and review: Ensure you constantly monitor your void management processes and regularly review your housing association’s performance.
How software can help manage voids
Void management is still a very manual process in a lot of housing providers, but there is existing software that will help any housing association enormously.
Having software that focuses on repairs and maintenance, where all of your repairs and maintenance work are managed in one place, can play a pivotal role in optimising the management of void properties.
Modern software solutions offer various tools to enhance efficiency and transparency, including:
- Housing maintenance systems: Allows housing associations to track the status of all properties, automate maintenance schedules and provide real-time updates on the progress of repairs and readiness for occupancy.
- Digital communication tools: Tools that facilitate seamless communication between housing associations, contractors and tenants can significantly reduce delays. Messaging, notifications and document sharing streamline the entire process.
- Data analytics: Predict patterns in vacancies and maintenance needs to proactively manage voids. Data-driven insights help in making informed decisions to optimise turnover times.
- Mobile applications: Mobile apps for maintenance teams enable real-time reporting and task management. This mobility ensures that maintenance issues are addressed promptly, reducing the duration of void periods. Plus, pictures and videos can be taken and easily uploaded when the pre-void inspection is conducted.
- Business intelligence platform: Helps to manage voids and get ahead of your organisation’s KPIs. Instantly group up your voids data to review, or even have an entire dashboard dedicated to voids, so you can see how many current empty properties you have or how many jobs are outstanding. Additionally, if your business intelligence platform has a predictive analytics module, you can also predict which properties will be more desirable with the click of a button.
How can ROCC help?
Efficient management of void properties is essential for the financial and operational stability of housing associations. The ROCC solution can remove all manual work needed to manage the turnaround of void properties and coupled with tightly coupled resource optimisation can completely automate the end-to-end process of turning a void property into a property ready for reletting.
With our market-leading housing software, you can significantly reduce the duration of vacancies and ensure properties are quickly available for new tenants. Maintenance work at void properties will be completed efficiently, on time and within budget by streamlining processes and automating all tasks.
For more information about ROCC’s housing software, get in touch with a member of our expert-led customer service team today.
