Landlords are facing void periods of just over three weeks on average between tenancies.
Data from lettings agent software platform Goodlord – based on a sample of 4,000 tenancies during February – found that void periods in England Wales are at 23.75 days on average.
This is down from an average of 28.6 days that Goodlord recorded in January.
Landlords in the midlands face the longest wait at 33 days in both the east and west of the region.
In contrast, landlords in London had the shortest wait for new tenants at just 13 days.
Despite the high void periods, landlords in the west midlands were offering the most affordable rents at £689 per month.
Based on average annual salaries among renters in the region of £18,000, Goodlord says this cohort is paying 24% of its annual income on rent, compared with 29% nationally.
The highest rents could be found in London, at £1,619 – 114% higher than the rest of the sample.
The cheapest rents were in the north-east of England at £635 a month, but due to low average annual incomes of £17,000, tenants are spending an average 44.8% of their income on renting.
Something we used to here often from landlords “Start viewings as soon as they give notice”
There’s a few problems with that, the tenants may not want to facilitate viewings, they may be untidy, they may say things to the viewers which puts them off, the circumstances under which they’re leaving may be delicate at best, the viewers feel uncomfortable, the agent can’t ask some of the things they need to of the potential applicant while the tenants are listening in.
This landlord request almost always means that an agent is willing to accept the first viewer just to keep the landlord happy.
Our landlords are all very happy, because we take time to choose the right tenant, we vet them properly, they are generally long term, currently we have just one tenant in £200 rent arrears who will have caught up this week out of hundreds of properties, all our properties are respected, our tenants are respectful, open and welcoming, we are not in court every week.
We do things differently because it works, maybe you just have to lose the old habits and try us.
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I can let a property before it becomes available ……… we have DSS coming out of our ears. Oops not allowed to say that and 90% of landlords don’t want them and 95% currently fail referencing … oops soon to become 100% wasting our time, when the tenant fee ban comes into force. Surely the delay is finding the right tenant for the landlord, however long that may take …. isn’t that your terms of engagement?
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