Rents Hit Record High and Void Periods Fall

Over the past year, void periods have fallen by 15% meaning that two-thirds of landlords have their properties vacant for only two weeks, losing only £319 on average.

LSL Property Services, the parent company of Your Move and Reeds Rains, reported that 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 – though 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.

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