Buy To Let voids now very low across the country, survey shows

Buy To Let voids now very low across the country, survey shows


Todays other news
NRLA wants the government to back a number of amendments...
The call comes from the chief executive of Generation Rent...
It says requests for guarantors may be “becoming the norm”...
Private rented housing now make up 19% of households in...
Rogue landlords could be fined up to £30,000 for various...


Void periods of vacancy within rental properties are relatively rare within several parts of the UK, new research has revealed.

Intus Lettings has polled 500 landlords from across the country in a bid to understand the changing demands of the buy tolet market.

According to the data, landlords in the east of England experience just 10 weeks of void periods over 12 months, with a quarter revealing their properties are empty for less than a month over the course of a year.

Northern Ireland paints a similar picture, with 65 per cent of landlords stating that their rentals are empty for three months or less and 16 per cent testifying that they’d never had a gap between tenancies.

Other regions that topped the list for complete year-round occupancy include Wales with 30 per cent; the West Midlands with 24 per cent; and the South West with 20 per cent of landlords having never experienced void periods at their properties.

Hope McKendrick, head of lettings at Intus, says: “Void periods can be a landlord’s worst nightmare, as no matter what they may hope to make on a future sale in terms of capital appreciation, a key part of property investment comes down to rental yields.

“When you consider that the average annual income per rental property in the UK is over £20,000, even a few weeks of unoccupancy would equal a significant loss – it’s fantastic to see landlords generating such positive returns.”

 

Over half of London landlords stated that Covid-19 had impacted tenancy levels yet encouragingly, the research also revealed that 65 per cent own more than one rental property – enabling them to spread investment risk.

McKendrick adds: “Speaking from personal experience, we’ve seen the lowest ever levels of void periods across our property portfolio this year. Landlords are taking steps to make properties more desirable, as well as resolving any issues quickly.

“When sourcing new properties, I’d advise landlords to explore areas of high tenant demand. If there’s a strong job market, good transport links and a thriving social scene, you’ll have a wider choice of tenants and stand a higher chance of reducing void periods and increasing yield.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Landlord Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
NRLA wants the government to back a number of amendments...
The call comes from the chief executive of Generation Rent...
It says requests for guarantors may be “becoming the norm”...
Unsold sales stock count for England and Wales increased 27,732...
The most vulnerable tenants may pay the highest price...
The service has expanded across the UK...
A tax rise coming in just five weeks’ time will...
Recommended for you
Latest Features
landlord numbers have fallen almost 1,000 between August 2024 and...
The fallout from the tariff drama could come together in...
Here’s how to reduce heating costs without compromising on comfort...
Sponsored Content

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here