Tenant Demand Soaring: Rental Voids At Lowest Level For Eight Years

Rental voids have fallen to their lowest level for eight years, with demand for rental properties continuing to rise rapidly.

Rental void periods are traditionally one of the most concerning hazards for buy-to-let property investors. Of course, it can also be attributed to more serious causes such as a tenant defaulting on payments, or even worse, the property becoming uninhabitable due to fire damage or flooding. However, more typically, this happens when a property is vacant of tenants and the landlord is not receiving rental income.

The latest ARLA survey of agents showed that the average void period has fallen from 3.6 weeks in the second quarter of this year to 3.2 weeks. In the south-east, the average void period is just 2.9 weeks.

The number of new tenancies being created has also increased.
 
Ian Potter, operations manager of ARLA, said: “The rental market is incredibly strong at the moment.”

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