18 Mar

UK landlords 'more confident'

UK landlords 'more confident'

Private sector landlords are reporting less void periods, according to new research.

A study from the BDRC Continental commissioned by Paragon Mortgages revealed that 34 per cent of landlords experienced a void period in the last three months of 2013 - compared to 36 per cent in the previous quarter.

There was a fall in the average length of void durations from 64 days to 59 days over the same period and this may be helping to boost confidence for landlords and letting agents.

Landlords also revealed they often have to cover the financial impact of the void periods in a number of ways. A total of 17 per cent of small landlords with just one rental property covered the shortfall with their own savings.

A quarter of those with larger property portfolios said the income gap would be covered by rent from their other units, while ten per cent explained they would be forced to absorb the cost.

"It is good to see that void periods are less frequent and getting shorter. What is also important to note is the resilience of landlords when coping with a shortfall of income on an individual property," said John Heron, director of mortgages at Paragon.ADNFCR-1222-ID-801704109-ADNFCR

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