When a tenant moves out, it doesn’t just leave an empty property - it creates a costly challenge known as a 'void'. These voids can drain your finances, strain your staff, and if not managed well, can lead to bigger issues that undermine your organisation’s goals. But what if reducing these expensive voids was as simple as listening to your tenants?
By truly engaging with tenant feedback, housing providers and councils can move from reactive to proactive, saving money, building stronger communities, and ensuring long-term stability.
The Real Impact of Housing Voids
The most immediate consequence of a void is the loss of rental income. On average, it takes about three weeks to re-let a property, with many aiming for a turnaround within 20 days. During this time, you're losing revenue. Add to that the costs of preparing the property - whether it’s minor repairs, a deep clean, or extensive refurbishments - these expenses quickly add up. Moreover, while the property is empty, you’re often covering costs like security, council tax, and utilities.
With around 4 million households living in social housing across the UK, tenant turnover is a significant and costly challenge. In 2021 alone, 267,000 households received a new social letting, which hints at a similar number of tenants moving out. By talking to our customers, we estimate the average void property can end up costing around £4,000, this translates to over £1 billion spent by social landlords each year just to manage tenant transitions.
Clearly, finding ways to reduce these housing voids can lead to massive savings and more stable communities.
The Strain on Operations
Voids don’t just hit the budget; they also put pressure on your team. Staff must manage the end of tenancy, coordinate repairs, and find new tenants - all while maintaining their regular duties.
High turnover can weaken community ties, potentially leading to more anti-social behaviour and making the area less attractive to future tenants.
How Tenant Feedback Can Prevent Voids
So, how can you reduce voids? By leveraging tenant feedback. Here’s how it can make a difference:
Listen Before They Leave: Regular feedback surveys can help identify recurring issues like maintenance delays or safety concerns. When tenants see that their feedback leads to real improvements, they’re more likely to stay.
Spot Trends Early: A recent report by The Guardian noted that evictions in the UK have risen by 98% in the past year due to rent arrears, property damage, and anti-social behaviour. By regularly analysing feedback, housing providers can catch these problems early and take action to prevent them.
Understand Why They’re Moving: Survey tenants who have given notice to find out why they’re leaving. Ask direct questions like, “Why are you moving?” and “Is there anything we can do to change your mind?”. If a tenant hints that a resolution could keep them, a follow-up call could make all the difference.
GovMetric has seen success with this approach, helping housing providers intervene before a final decision to move is made, ultimately improving tenant retention.
The Value of Listening
Tenant turnover is costly, but it doesn’t have to be inevitable. By effectively using tenant feedback, you can address issues before they lead to voids. GovMetric’s approach to collecting and utilising feedback gives you the insights needed to understand why tenants leave, allowing for targeted interventions that significantly reduce voids.
By staying in tune with your tenants' needs, you can deliver more responsive services, foster stronger communities, and create stable environments for everyone. Let’s make tenant satisfaction a priority—because when tenants stay, communities thrive.
Start listening to your tenants now and see the difference it can make in reducing voids and building a stronger community.
Helping Housing Providers Understand the Tenant Experience
We provide solutions to enable feedback and complaints to be captured for regulated and non-regulated services.
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