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Void periods fall as rents climb to record high

01 December 2010
Written by rosalind renshaw

Void periods have fallen by 15% over the last year, meaning that two-thirds of landlords have their properties vacant for only two weeks, at a loss in rent of just £319.

According to LSL Property Services, which owns Your Move and Reeds Rains, only 18% of landlords have had properties vacant for four or more weeks in the last year, and 7% had properties vacant for over ten weeks – but this figure included landlords refurbishing their properties.

In October 2009, the average property remained unoccupied for 36.4 days per year. In October this year, this had fallen to 30.9 days, a saving of £125.

LSL also reported that rents are now at a record high of £691 per month.

Nine in ten landlords (88%) expect void periods to be less than four weeks in the next 12 months, the firm said.

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