Rental voids falling

by Gemma Roskell

Landlords are facing shorter void periods, according to the latest figures from the Association of Residential Letting Agents (ARLA).

Its data showed that the average void period is now 3.2 weeks, down from 3.6 weeks three months ago.

This represents an eight-year low and could come as welcome news to landlords hoping to let properties quickly once their current tenants leave.

Void periods were found to be shortest in London, excluding the central part of the city, at just 2.9 weeks.

ARLA also recorded an increase in the average number of new tenancy agreements being signed, compared to the previous quarter.

"The rental market is incredibly strong at the moment for those working within the industry," said Ian Potter, operations manager at the organisation.

Meanwhile, figures from LSL Property Services have revealed that average rents in the UK have hit their highest in two years as tenant demand increases and supply falls.

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Published on: September 23, 2010

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