Letting agents 'more successful at filling void properties'

News Category: Management

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New research has suggested that landlords who rent their properties through a letting agent could find the homes are empty for a shorter period of time.

According to the Deposit Protection Service (DPS), it only takes two weeks for letting agents to find tenants for 63 per cent of properties, compare to 38 per cent of homes landlords choose to market themselves.

Although the exact cost to landlords of void properties cannot be calculated, it is estimated by online letting agent Upad.co.uk that it could be £3 billion each year.

Kevin Firth, director of the DPS, stated that landlords can do more to ensure their properties are filled with tenants faster.

"In the current market - where demand for rental property far exceeds supply - there is no excuse for allowing properties to remain dormant and not earning income," he said.

Rick Flay from letting agent Belvoir recently advised landlords to market properties through a letting agent, as they only take a small commission for finding tenants.

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