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#011 Avoiding Property Voids and Reducing Your Options
Having more options is NOT always better!
In this episode of the Property Entrepreneur Podcast, Gordon talks about avoiding property voids and reducing your options. As a property owner, you don’t want your unit to be vacant for so long, so listen to Gordon’s tips so you could easily find your next tenant. Always aim that you don’t have a property void so always earn revenue.
Aside from this, Gordon also helps you get over decision fatigues. People mostly experience this when they have too many options on their hands so the best solution is to reduce them. Through this, you become more efficient and more focused on your goals!
KEY TAKEAWAYS
- Gordon’s highlight for the week:
- A 10-km run (his longest!) last Friday evening.
- Fastest park run!
- Preparing for his business trip to Jamaica. (next episode will be recorded there!)
- Tips to Avoid Property Voids:
- Use property management companies. It might be a bit pricey for you but these companies will do everything to get your rooms filled since they also have a cut from it.
- Offer referral fees to any existing tenants you have.
- Take advantage of advertising opportunities you find. If you got spare rooms in your HMO, there’s no better reason to advertise them online or print.
- More options are not always better. It becomes overwhelming and tiring making decisions every time. So, Gordon suggests reduce options before making actions.
- For example, he struggles to choose what book he’s going to get from his pile every time he feels the urge to read. So, his solution is to stop buying books for now until he zeroes his tsundoku pile.
BEST MOMENTS
- “Sometimes, tenants move out without notice. But when you get that notice, make sure you try to do as far and advance as possible and prepare for that…so you can reduce that void period as much as possible.”
- “I find that too much choice leads to decision fatigue.”
- “…so I’ve reduced my available options. It has not only reduce to the decision fatigue I’m receiving but it’s also making me efficient.”
VALUABLE RESOURCES
- Progressive Property
- com
Start With Why by Simon Sinek
ABOUT THE HOST
Welcome to the Property Entrepreneur Podcast. We don’t know about you, but we’re fed up of being broke and relying on exchanging time for money working for others. Join Gordon Done on his journey to becoming a full-time property investor. You’ll get a no holds barred introduction to property entrepreneurship.
It doesn’t matter if you’re completely new to property or you’ve been working in property for years; we’ll give you the tools you need to create a mindset for success. We’ll help you avoid any mistakes we make along the way while giving you the blueprint to any successes we achieve.
Join us on our journey to becoming professional property investors and learn how you too can become financially free through property entrepreneurship.
“Financially free…Brick by Brick”
CONTACT METHOD
- FB: https://www.facebook.com/The-Property-Entrepreneur-Podcast-519677241877352/
View all episodes
By Gordon DoneHaving more options is NOT always better!
In this episode of the Property Entrepreneur Podcast, Gordon talks about avoiding property voids and reducing your options. As a property owner, you don’t want your unit to be vacant for so long, so listen to Gordon’s tips so you could easily find your next tenant. Always aim that you don’t have a property void so always earn revenue.
Aside from this, Gordon also helps you get over decision fatigues. People mostly experience this when they have too many options on their hands so the best solution is to reduce them. Through this, you become more efficient and more focused on your goals!
KEY TAKEAWAYS
- Gordon’s highlight for the week:
- A 10-km run (his longest!) last Friday evening.
- Fastest park run!
- Preparing for his business trip to Jamaica. (next episode will be recorded there!)
- Tips to Avoid Property Voids:
- Use property management companies. It might be a bit pricey for you but these companies will do everything to get your rooms filled since they also have a cut from it.
- Offer referral fees to any existing tenants you have.
- Take advantage of advertising opportunities you find. If you got spare rooms in your HMO, there’s no better reason to advertise them online or print.
- More options are not always better. It becomes overwhelming and tiring making decisions every time. So, Gordon suggests reduce options before making actions.
- For example, he struggles to choose what book he’s going to get from his pile every time he feels the urge to read. So, his solution is to stop buying books for now until he zeroes his tsundoku pile.
BEST MOMENTS
- “Sometimes, tenants move out without notice. But when you get that notice, make sure you try to do as far and advance as possible and prepare for that…so you can reduce that void period as much as possible.”
- “I find that too much choice leads to decision fatigue.”
- “…so I’ve reduced my available options. It has not only reduce to the decision fatigue I’m receiving but it’s also making me efficient.”
VALUABLE RESOURCES
- Progressive Property
- com
Start With Why by Simon Sinek
ABOUT THE HOST
Welcome to the Property Entrepreneur Podcast. We don’t know about you, but we’re fed up of being broke and relying on exchanging time for money working for others. Join Gordon Done on his journey to becoming a full-time property investor. You’ll get a no holds barred introduction to property entrepreneurship.
It doesn’t matter if you’re completely new to property or you’ve been working in property for years; we’ll give you the tools you need to create a mindset for success. We’ll help you avoid any mistakes we make along the way while giving you the blueprint to any successes we achieve.
Join us on our journey to becoming professional property investors and learn how you too can become financially free through property entrepreneurship.
“Financially free…Brick by Brick”
CONTACT METHOD
- FB: https://www.facebook.com/The-Property-Entrepreneur-Podcast-519677241877352/