Vacant properties for three months a year…

October 17, 2011

CIA Let Property Blog

Are you protecting yourself from unexpected rent loss?

One in three landlords has experienced at least one ‘void’ period where they had no tenants in a buy-to-let property in the last three months according to new research. The landlords who are experiencing a ‘void’ period usually have the average time without rent at 56 days, with some reporting properties being vacant for as long as 64 days.

There have been many reasons given for the gaps in rent received, with one of the most common reasons being the natural change over between tenancies. Another reason for the ‘void’ period was being able to find good tenants and unfortunately this can be a struggle, landlords are still worried about the economic situations of potential tenants.

Another reason for the ‘void’ period is caused by refurbishment and/or maintenance work having to be done on a property, more than one in eight landlords (13%) said that this was a cause of a short gap in rental income. This work may be regular maintenance or the result of an insurance claim, either way if you haven’t made room for this in your landlords rental budget the unexpected loss of rent could add to an already stressful situation.

By Buying a good insurance policy, which is tailored to suit the needs of landlords is key and the best way to ensure that your are protected and covered for all outcomes.

Whatever type of property you own, it is an investment that you need to protect carefully. This is where CIA Insurance comes in, because we are specialists in let property insurance. To get a quote visit www.cia-landlords.co.uk or call one of our experienced let property sales team members on 0844 88 88 323.

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