{"id":6030227,"date":"2020-03-11T13:15:38","date_gmt":"2020-03-11T13:15:38","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=6030227"},"modified":"2023-11-09T15:35:18","modified_gmt":"2023-11-09T14:35:18","slug":"void-periods-falling-how-can-buy-to-let-landlords-keep-it-that-way","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2020\/03\/11\/void-periods-falling-how-can-buy-to-let-landlords-keep-it-that-way\/","title":{"rendered":"Void periods are falling: how can buy-to-let landlords keep it that way?"},"content":{"rendered":"

Void periods can be the bane of many landlords’ lives. Now new research shows they’re becoming less of a problem, but there are still things you can do to avoid them.<\/strong><\/p>\n

Having an empty property is not a good scenario for any landlord. No matter what you expect to reap through a future sale in capital appreciation, a major part of property investment is about rental yields<\/a>.<\/p>\n

Some new data from Goodlord has revealed that the number of “void days” for UK landlords dropped in February to 19 days, compared to 20 days in January. This may be a modest fall, but every day counts for landlords’ bottom lines.<\/p>\n

Void periods varied across the country, according to the report. In Greater London<\/a>, where the rental market is fast and fierce, voids dropped from 15 days to just 10 days. Meanwhile, the north-west, south-east, south-west and West Midlands all had more days occupied last month.<\/p>\n

How long do people rent for?<\/h4>\n

Goodlord<\/a> also looked at average tenancy<\/a> terms across the UK. While the UK average was 10 months in February, again, it varied from area to area. The longest tenancies tend to be in London, where renters stay put for an average of 14 months. At the other end of the scale, those renting in the north-west<\/a> only stay for eight months.<\/p>\n

At the moment, demand is extremely high<\/a> for rental accommodation. While the number of rental properties available might be dipping, according to statistics, the number of tenants searching is on the up. This is generally a good thing for buy-to-let landlords, and could explain the shrinking void periods.<\/p>\n

The downsides of having an empty property<\/h4>\n

Void periods are unwanted for a number of reasons, unless they are intentional, such as for carrying out work on the property. Whether you own one property or several, whenever a rental home does not have tenants, you are not receiving the rental income that makes up your overall return on investment. But this is just one side of the story.<\/p>\n