The Cost of Void Periods – Why It Matters for Landlords
The cost of void periods is something every landlord should take seriously. A void period — the time your property sits empty between tenants — can be far more expensive than you might expect. It’s not just about missing a month’s rent; the costs quickly add up through bills, maintenance, and lost opportunities.
At Legacy Property Sales & Lettings, we help landlords in Oxfordshire and beyond understand the financial impact of void periods and take practical steps to reduce them.
The True Cost of Void Periods
Knowing the cost of void periods is the first step to managing them. Here’s what many landlords face when their property is empty:
1. Lost Rental Income
The most obvious cost. If your rent is £1,200 per month, a one-month void means £1,200 gone forever.
2. Ongoing Bills
Utilities, council tax, and insurance premiums don’t stop just because your property is vacant.
3. Increased Risk to Property
Empty homes can develop unnoticed maintenance issues or become targets for vandalism.
4. Mortgage Payments Without Income
If rental income covers your mortgage, voids can put serious strain on cash flow.
5. Re-Letting Costs
Advertising, tenant referencing, and possible redecorating all eat into profits.
How to Reduce the Cost of Void Periods
Lowering the cost of void periods means keeping properties occupied as much as possible. Here’s how:
1. Start Marketing Early – List your property as soon as notice is given. We advertise on major portals like Rightmove, Zoopla, and SpareRoom to reach more tenants.
2. Maintain Great Tenant Relationships – Tenants who feel valued are more likely to renew, reducing turnover.
3. Keep the Property in Excellent Condition – Well-presented homes rent faster and for better prices.
4. Set Competitive Rent – Overpricing can cause delays in finding tenants. We use local data to set the best rental figure.
5. Offer Flexible Tenancy Terms – Options like shorter leases or adaptable move-in dates attract more applicants.
6. Respond Promptly to Enquiries – Fast replies prevent potential tenants from going elsewhere.
How Legacy PSL Helps You Avoid Costly Voids
At Legacy Property Sales & Lettings, we:
– Market properties across multiple platforms, including SpareRoom
– Maintain a pre-vetted tenant database for quicker lets
– Provide a free online property valuation tool so you know the rent you can achieve
– Offer advice in our Facebook landlord community to help you manage your investment better
Stay Connected & Get Support
– Join Our Facebook Landlord Community – Ask questions, share experiences, and get expert property advice. Join Here
– Check Our SpareRoom Listings – See our latest available properties. View Listings
– Free Rental Valuation Tool – Find out instantly what your property could earn. Use Tool
External Resources for Landlords
For more on UK landlord regulations and responsibilities, visit:
