Rental voids hit six year low

Posted: 5/11/2021

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Rental voids, that is the time a property sits empty between rentals is down 30% this year according to new figures*. That comes as no surprise to us here at Key One Property where we routinely obtain back-to-back tenancies for our landlords. That figure is in part due to the high demand and low supply and in part because less tenants moved during the pandemic. On average, UK landlords only lost half a month's income for their rental properties this year. But unless a landlord needs to carry out repairs or improvements between tenancies, as far as we are concerned, two weeks is two weeks too many! At Key One we are installing tenants the day after the old tenant leaves in the majority of cases. If there is work to be carried out as a result of the tenant not adhering to their tenancy obligations then not only do we claim that from the deposit on behalf of the landlord, but we can also claim for lost rent while the work is being done. Our charge for of all this extra work is zero - it's included in our management service. That said we do a lot to ensure that tenants leave a property in a condition that means there are no repairs, no void, and no claim on their deposit. We also offer a let only fee, which in many cases is less than two weeks’ rent. Considering that we can find good quality tenants very quickly, it makes financial sense for landlords to use us instead of trying to let themselves on the troublesome buy and sell sites. Contact us for a chat about your Buy-to-Let. 

*Figures from ARLA/Propertymark

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