Landlord Basics

Letting Agents Create Shorter Void Periods

Recent research by The Deposit Protection Service has found that letting agents can seriously help buy to let landlords to witness shorter void periods between lettings than if they marketed their property investments on their own.

During their study, DPS found that letting agents can keep void periods to less than 2 weeks for 63% of their properties, compared to 38% of the properties advertised independently by landlords.

However this is not all they discovered. Certain regions within the UK appear to be more susceptible to voids than others…

Basing the following statistics on the quantity of property lets that are empty for more than 3 months at a time, DPS found:

• 50% in Tewkesbury, Gloucestershire
• 50% in South Northamptonshire
• 46.7% in Ribble Valley, Lancashire
• 43.8% in the Derbyshire Dales
• 41.2% in Rochford, Essex
• 41% in Elmbridge, Surrey
• 40.7% in Eden, Cumbria
• 40.6% in Gosport, Hampshire

Yet despite these evidently high void periods; property advisors are certain that by taking more time to learn how to market their properties, property investors can turn this round and ensure that their property lets are not empty for long, especially as demand for rental properties is continuing to exceed supplies.

Related posts:

1. Greater Regulations For Letting Agents
2. Property Letting Up 24%
3. Does The Estate Agents Act Need To Be Amended?
4. New Initiative Offers Property Investors Protection Against Squatters
5. Gloomy news from UK Estate agents on the UK market

Tags: buy to let landlord, letting agents, property advisors, property investments, property let

This entry was posted on Thursday, August 12th, 2010 at 7:43 am and is filed under News, property letting. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.