top of page

Are Your Prepared for a Void Period?


According to research carried out by the National Landlords Association (NLA), 90% of landlords are completely unprepared in the event of a rental void. 19% of landlords with only one rental property were prepared to use their income from a main job to cover the deficit; 17% would rely on savings; and 16% would just stick their head in

******Whoops! Looks like this is an old post that isn’t relevant any more :/ ******

******Visit the blog home page for the most up to date news. ******

the sand and hope that the problem went away.

Portfolio Landlords Cope Better Of those landlords questioned who owned several rental properties, 34% of them said they had had to cope with a void period in the last twelve months. A quarter of these landlords said they would be able to cover any void periods with income from other properties in their portfolio.

Do You Have a Business Plan in Place? The NLA is keen to stress to new landlords that it is essential to have a sound business plan in place. Becoming a landlord is the same as running any business and as such you need to make plans to cope with any eventuality, including rental voids, particularly if you are paying a mortgage on the property. Unfortunately a lot of new and prospective landlords underestimate the financial impact of rental voids that can occur when tenants leave unexpectedly or a tenant stops paying the rent.

The NLA recommends: “…budgeting for 10 months’ rent in any 12 month period to allow for missed rental payments and voids. It’s also essential that landlords carry out checks on potential tenants to minimise their risk of non-payment.”

0 views

Related Posts

See All

Tenant demand has continued to increase

Sourced Properties Weekly List to Your Email inbox The August sentiment survey by Royal Institution of Chartered Surveyors (RICS) gauging the mood of agents, showed improvement in the lettings market.

Property Down Valued

In a recent survey by Bankrate UK, a mortgage comparison service, questioned buyers about their prospective purchases in the last 6 months in the UK. 46% revealed they had their prospective property d

Will Cardiff House Prices Crash?

House prices in the UK are starting to fall after 8 years of stable growth. This is according to recent house price indices. At the moment prices are still fairly stable, but market fluctuations have

bottom of page