Research for the NLA by research consultants BDRC Continental showed that in March 2010 52% of landlords had experienced voids in the past year. However, this figure is down from 55% during the final three months of 2009.
In addition, the average period of voids has also fallen slightly from 19 days to 17 days.
However, an increase in tenant demand and a reduction in supply as reluctant landlords sell up has failed to improve rental voids.
In addition, the lack of mortgages for first-time buyers and the need for high deposits means more would-be buyers are now renting for longer periods.
The strategy adopted by landlords for covering voids continues to vary depending on portfolio size. While larger landlords are more able to offset the costs of voids with rent from other properties, 43% of landlords claimed to use personal savings to meet the shortfall in mortgage repayments.
David Salusbury, chairman of the NLA, said: “No landlord likes void periods. They can end up being very costly indeed. Although incidences of voids have levelled off, over half of the landlords questioned have experienced voids in the past year, albeit for a shorter length of time.
“The best way to deal with void periods is to avoid them altogether. As with many issues in the letting of residential property, open and respectful channels of communications between landlords and tenants will pay dividends.”
