Void Period

Financial

The time when a rental property is empty between tenancies, during which no rent is received and the landlord bears all costs

Void Period is the time when a rental property is empty between tenancies, generating no rental income while the landlord continues paying mortgage, insurance, and council tax. At average UK rent of GBP1,366/month, each void week costs approximately GBP315 in lost income. Well-managed properties typically achieve void periods of 1-2 weeks, while difficult properties or areas may see 4-8+ weeks. Marketing early (6-8 weeks before tenant departure) helps minimise void costs.

Types of Void

Planned void:

  • Tenant gives proper notice
  • Time allowed for refurbishment
  • Marketing begins before tenant leaves
  • Minimised with good planning

Unplanned void:

  • Tenant abandons property
  • Eviction completed
  • Tenant dies
  • Emergency repairs needed

Costs During Void Periods

Landlord must pay:

  • Mortgage: Still due monthly
  • Council tax: Landlord becomes liable
  • Insurance: Must continue
  • Utilities: Standing charges (minimum)
  • Maintenance: Any repairs needed
  • Marketing: Agent fees, advertising

Minimising Void Periods

Before tenant leaves:

  • Serve notice to find tenant early
  • Conduct viewings before move-out
  • Begin marketing 6-8 weeks ahead

Between tenants:

  • Quick turnaround cleaning
  • Efficient maintenance
  • Ready-to-let condition
  • Competitive pricing

Ongoing:

  • Maintain property well
  • Good tenant relationships
  • Fair rent reviews
  • Responsive management

Average Void Periods

Typical void periods:

  • Well-managed property: 1-2 weeks
  • Average: 2-4 weeks
  • Difficult property/area: 4-8+ weeks

Calculating Void Impact

Example:

  • Monthly rent: £1,200
  • Annual gross: £14,400
  • With 1-month void: £13,200 (8% reduction)
  • Gross yield drops accordingly

Council Tax During Voids

Important considerations:

  • Landlord liable when empty
  • Some councils offer empty property discount
  • Long-term empty = premium charges (up to 300%)
  • Furnished vs unfurnished may affect rates

For Letting Agents

Void management best practices:

  • Track notice dates carefully
  • Market early with tenant cooperation
  • Coordinate efficient changeover
  • Advise on pricing for quick let
  • Handle turnover efficiently
  • Communicate void costs to landlords

Related Terms

Council Tax Band

The valuation category assigned to a property that determines how much council tax is payable, ranging from Band A (lowest) to Band H (highest)

Market Rent

The amount a property could reasonably be expected to rent for on the open market, based on comparable properties in the area

Rental Yield

A measure of the return on a buy-to-let investment, calculated as the annual rent as a percentage of the property value

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