A ‘rental void’ is what agents call an empty or unoccupied period in a property. Something Horizon Lets work very hard to avoid ????
According to PropTech firm Goodlord, this summer has now seen voids hit a historic low up and down the country.
Their research says the average void period in England, as a whole, dropped by 41% in July – to just 10 days on average with every region monitored experiencing a significant reduction.
This will have been driven in part by a surge in demand for student lets, with even the uncharacteristic hot Summer failing to cool it down!
At the same time average rental prices in England rose by a huge 18% during the same period which is the highest average ever recorded by Goodlord. Again, this is largely attributed to high-value student lets, with prime university cities being the biggest beneficiaries.
Despite still being the most expensive place to rent in England, even Greater London saw a small 3% rise in the average rent
Goodlord also measured average income for tenants, and this also rose very slightly during July by 1%
At Horizon Lets we are personally experiencing an incredibly busy lettings market that shows no signs of slowing down. We are working hard to ensure good quality homes stay in the rental market and to meet the current high demand. Get in touch today to see how we can get your property onboarded, looking its best, marketed beautifully and we’ll make sure to maximise the rent you can achieve!
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