The Real Cost of a Void Period for London Landlords (It Is More Than You Think)

Most London landlords calculate a void period like this:

Property sits empty for four weeks, you lose the rent, and move on.

The problem with that calculation is that it only counts the most obvious cost. A void period carries a set of additional financial hits that most landlords never add up,  and when you do the maths properly, the number is significantly higher than expected. Find out how to protect your rental income – book a free guaranteed rent viewing

What is a void period?

A void period is any time your rental property sits empty between tenancies: from the day the
previous tenant moves out to the day the new tenant moves in and begins paying rent. Even a
well-managed property will typically experience void periods. The average void period for a
London rental property is around 28 days.

The direct cost: lost rent

The most obvious cost is the rent you do not receive while the property is empty. On an average two-bedroom property in South East London renting at £1,800 per month, a 28-day void period costs approximately £1,700 in lost rent. On a three-bedroom property at £2,200 per month, that rises to just over £2,000.

This happens every time a tenancy ends and a new one has not yet started. For landlords with
one or two properties, a single void period can wipe out months of net profit.

The hidden costs most landlords miss

Tenant find fees:  If you use a traditional letting agent to find a replacement tenant, you will
typically pay a tenant find fee of four to six weeks rent. On an £1,800 per month property that is between £1,800 and £2,700 – on top of the rent you have already lost.

Ongoing bills during the void: While the property is empty, utility bills (council tax, gas
standing charges, electricity) often remain the landlord’s responsibility. Depending on your
setup, this can add several hundred pounds to the cost of each void period.

Maintenance and redecoration: The gap between tenancies is when landlords typically deal
with maintenance and redecoration. Even a light refresh (a repaint, a carpet clean, a few minor
repairs) adds cost. If the departing tenant left the property in poor condition, that cost can be
significantly higher.

Mortgage payments continue: Your mortgage does not pause because the property is empty. Every month a void period extends, you are covering the mortgage out of your own pocket with no rental income to offset it.

What a bad year actually looks like

Here is a realistic scenario for a self-managing landlord with a two-bedroom property in South
East London:

• Two void periods in a year totalling ten weeks: approximately £4,500 in lost rent
• Two tenant find fees at five weeks each: approximately £4,500
• Redecoration and maintenance between tenancies: approximately £1,500
• Bills during void periods: approximately £400
• One maintenance call-out above the usual threshold: approximately £600

Total additional cost in a bad year: over £11,000. On a property generating £21,600 in annual
rent, that is more than half the gross income before mortgage, insurance and any other costs are considered.

How the Renters Rights Act makes void periods more expensive

The Renters Rights Act, which came into force on 1st May 2026, has changed the possession
process significantly.

Section 21 no-fault evictions are no longer available. Regaining possession now requires a specific legal ground and a court process that is longer and less predictable than before.

For landlords, this means that dealing with a difficult tenant, for example one who falls into arrears, causes problems, or simply refuses to leave, is now more time-consuming and more expensive than it was.

The void period following a contested possession can be significantly longer than a standard one, and the legal costs involved can run into thousands.

How guaranteed rent eliminates void period risk entirely

Under a guaranteed rent arrangement, void periods become the problem of the guaranteed rent company – not yours.

The London Landlord leases your property directly and pays you a fixed monthly income on the 28th of every month for the full term of the contract. Whether the property is occupied or not. Whether there is a gap between tenancies or not. Whether a sub-tenant falls into arrears and we need to find a replacement or not.

Your income does not stop. You do not absorb the cost of an empty property. The risk transfers entirely to us. For most landlords, when the true cost of void periods is calculated honestly, the guaranteed rent offer (which is below open market rent) compares favourably once void periods, tenant find fees and associated costs are factored in.

Is guaranteed rent the right solution for you?

Guaranteed rent is not right for every landlord. If you have a straightforward property, a reliable long-term tenant and no desire to change anything, the traditional model may serve you well. But if you have experienced void periods regularly, if your property is in an area with higher tenant turnover, if you are tired of the uncertainty or if you are simply looking for genuinely passive income from your property, guaranteed rent is worth serious consideration.

We offer free no-obligation viewings across London and the South East. We come to the property, assess it, and give you a fixed rent offer on the day. No fees. No pressure. You decide. Book a free guaranteed rent viewing – find out what your property could earn.

Frequently asked questions about void periods

How long is the average void period in London? The average void period for a London rental property is approximately 28 days, though this varies significantly by area, property type and price point.

Who pays council tax during a void period? In most cases, the landlord becomes liable for council tax when the property is empty. Some councils offer a short exemption period for genuinely empty properties – check with your local council.

Does a void period affect my mortgage? Your mortgage payments continue regardless of whether the property is tenanted. A prolonged void period can cause cash flow problems, particularly for landlords with interest-only buy-to-let mortgages at higher rates.

Can guaranteed rent really cover my mortgage if the property is empty? Yes – under a
guaranteed rent arrangement your fixed monthly payment continues whether the property is
occupied or not. Your income does not depend on occupancy.