"Having the necessary processes and support in place can help to minimise the impact of voids in the first few months of the year"
The average void period was four weeks between January and April 2019, before dropping to three weeks for the remainder of the year to date, figures from ARLA Propertymark show.
There are several reasons which contribute towards higher void periods in the first few months of the year. There is an increased chance of evictions as rent arrears can spiral due to tenants overstretching themselves at Christmas.
Moreover, a lack of funds could discourage renters from moving home, meaning that rental properties which are empty at the turn of the year could remain vacant that little bit longer than usual.
The summer months tend to be more popular for moves due to better conditions for property viewings and moves, while there is a huge amount of activity in the student lettings market between August and October.
With most tenants on 12-month contracts, the chances of these trends becoming set annual patterns also increases.
Void periods can be costly for landlords as they may still have to pay buy-to-let mortgage payments and property running costs while receiving no rent from tenants.
During the first few months of the year, running costs are also usually higher due to the increased need for central heating and lighting.
Moreover, empty properties are more susceptible to theft and unreported property damage so it’s crucial to get them occupied as quickly as possible.
Tenant Shop says that in the current climate it’s more important than ever for agents and landlords to have the relevant cover and void management solutions in place to cover all eventualities and keep costs down.
Glenn Seddington, managing director of Tenant Shop, said: "Void periods are unfortunately an inevitability for landlords, but it's obviously important they are kept as short as possible.
"Having the necessary processes and support in place can help to minimise the impact of voids in the first few months of the year when the chances of them lasting for longer is increased.
"Feedback from our agents and their landlords concludes that the more proactive amongst them utilise this time to carry out productive tasks such as repairs and maintenance, which then in turn helps to reduce the chances of longer void periods occurring in the future."
