Letting agents - lower voids

One of the approved Tenancy Deposit Schemes (TDS) the Deposit Protection Service (DPS) has examined the different void periods experienced by landlords who market their property directly compared to those that use a letting agent.

The findings are interesting. The DPS found that 63% of buy-to-let properties that used an agent kept void periods to within 2 weeks compared to only 38% for those landlords that marketed their buy-to-let properties directly.

Two of the worst area for voids were in Lancashire but their research also highlighted parts of Surrey, Hampshire and Essex showing higher than average void rates.

In some parts of the country the DPS found that over 50% of properties had been empty for over 3 months.

The reality is that in the current market of high rental demand there is no excuse for a pre-longed rental void period. If a landlords property is empty they are not marketing their property effectively or it could be time for a property makeover.

Landlords should remember they are running a business & they need to be proactive in getting their investment property let, whether they employ a letting agent or market their buy-to-let independently. Cashflow is king and avoiding a void is critical to any successful rental business.

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