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Rental void periods fall to two-year low

Rental void periods fell to a two-year low in 2011, research from Paragon Mortgages reveals.

The average time a property remained empty last year was 2.8 weeks, down from 3.2 weeks in 2010 and 3.3 weeks in 2009.

Professional landlords experienced slightly higher void periods at an average of 2.9 weeks in 2011.

John Heron, managing director of Paragon Mortgages, says: “The decrease in the average void period can be attributed to the surge in demand we have seen for private rented property in the past 12 to 18 months.

“Tenant demand has increased at a rate never experienced before so it is positive that rental properties are being let quickly and there is less of a gap between tenancy agreements. This is positive news for the tenant and also the landlord too, ensuring their portfolio remains profitable.”

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