For most landlords, the words “void period” immediately bring one thing to mind: lost rent.
And while that’s certainly the biggest and most obvious cost, it’s rarely the only one.
In fact, many landlords are surprised by how quickly the true cost of an empty property can escalate. Mortgage payments continue, bills still arrive, maintenance often becomes necessary, and before long a seemingly short gap between tenants can have a significant impact on annual returns.
The good news is that void periods aren’t always inevitable. With the right preparation and strategy, they can often be reduced substantially and, in some cases, avoided altogether.
What exactly is a void period?
A void period is the time between one tenancy ending and another beginning.
During this period, the property generates no rental income, but many of the property’s costs continue regardless.
Whether the gap lasts a week, a month, or longer, the financial impact can be far greater than landlords initially expect.
Lost rent is only the beginning
The most obvious consequence of a void period is the loss of rental income.
For example, if a property achieves £1,200 per calendar month and remains empty for six weeks, the landlord will lose approximately £1,800 in rent alone.
However, that’s often just the starting point.
Many landlords continue paying:
- Mortgage repayments
- Council tax
- Utility standing charges
- Insurance costs
- Service charges and ground rent (where applicable)
If the property becomes vacant during winter, additional heating may be required to prevent damp, condensation or frozen pipework, creating yet another expense.
The hidden costs many landlords overlook
One reason void periods become expensive is that they often coincide with works being carried out between tenancies.
Even well-maintained properties typically require some level of preparation before the next tenant moves in.
This can include:
- Professional cleaning
- Redecoration
- Repairs and maintenance
- Replacing worn fixtures and fittings
- Safety inspections and certification updates
Then there are the costs associated with securing a replacement tenant.
Marketing, accompanied viewings, referencing and tenancy administration all take time and resources.
When combined, a six-week void on a £1,200 per month property could easily exceed £3,000 in total costs once lost rent and re-letting expenses are considered.
Why pricing can make or break a re-let
One of the biggest mistakes landlords make during a re-let is focusing solely on achieving the highest possible rent.
Of course, maximising rental income is important.
But an unrealistic asking price can often prove far more costly than accepting a slightly lower figure that secures a tenant quickly.
A property that sits empty for several extra weeks while chasing an additional £25 or £50 per month frequently leaves the landlord worse off overall.
The most successful landlords understand that occupancy is often more important than squeezing every last pound from the monthly rent.
How to minimise void periods
While no landlord can eliminate void periods entirely, there are several practical steps that can significantly reduce them.
Start marketing early
As soon as notice is received from a tenant, preparations should begin.
In many cases, viewings can be conducted during the notice period, allowing a replacement tenant to be secured before the current tenancy even ends.
Keep the property well maintained
Well-presented homes attract stronger demand and tend to let more quickly.
Regular maintenance throughout the tenancy often prevents the need for lengthy refurbishment periods later.
Price realistically
The local market determines rental values, not landlord expectations.
Accurate pricing based on current demand typically results in faster lets and lower overall costs.
Work with a proactive local letting agent
Local knowledge matters.
An agent with a strong applicant database, effective marketing systems and a detailed understanding of tenant demand can often dramatically reduce the time a property sits empty.
Prevention is almost always cheaper than cure
The reality is that every landlord will experience the occasional void period.
The difference between a profitable rental business and a frustrating one often comes down to how those voids are managed.
Landlords who plan ahead, respond quickly and take professional advice generally experience shorter vacancies, lower costs and stronger long-term returns.
As founding members of the Ethical Agent Network and members of its advisory panel, we believe that good lettings management is about much more than collecting rent. It’s about protecting landlords from avoidable costs, helping tenants move smoothly between homes and ensuring properties remain occupied as consistently as possible.
Because when it comes to void periods, prevention will almost always be cheaper than cure.
Article by Andrew Overman | Partner | Location Location East
