The UK Association of Letting Agents has revealed where voids are at their worst in the rental sector – and where they are less of a problem.
UKALA says the worst hit region is the North of England where 53 per cent of landlords experienced a void in the last quarter.
The findings also show that the UK average is 35 per cent, which has crept up slightly from 33 per cent from the previous quarter.
At the other end of the scale, 28 per cent of landlords in the South East experienced a void over the same time period, the lowest of any UK region, while in nearby London 42 per cent of landlords had a void period.
The research also shows that while 63 per cent of voids were due to natural tenant changeover, other key reasons included vacating the property to carry out essential maintenance, limited demand in the area, and tenants leaving because they can no longer afford to pay rent.
“There are a number of reasons why landlords experience a void, but it’s important to know that agents are here to help and support them when it comes to re-letting property. Other than to carry out important maintenance and refurbishments, void periods can be minimised by finding reliable replacement tenants quickly; something that agents are best placed to assist with” says UKALA director Richard Price.
Here’s the regional breakdown:
– North East and North West: 53 per cent of landlords experience a void in the most recent three months;
– Yorkshire and Humberside: 48 per cent;
– Outer London: 42 per cent;
– Inner London: 41 per cent;
– Wales: 40 per cent;
– East of England: 39 per cent;
– East Midlands: 38 per cent;
– West Midlands: 35 per cent;
– Scotland and South West England: 33 per cent;
– South East: 28 per cent.