A survey of the property rental market in major cities has found that Cardiff has one of the highest tenant turnovers in all of the UK, with an average tenant property turnover of about a year. This is unsurprising considering how high the percentage of Cardiff properties let to students is; these are tenants who often only stay in a student property for a year.
While this high turnover can be explained, it doesn't look good when compared to other major cities in the UK. For example, Birmingham has a tenant turnover of 28 months! Meanwhile, Bristol has a tenant turnover of 14 months, again another large student city.
While Cardiff may have the highest tenant turnover, it's not all bad news! At CPS Homes, we excel when it comes to minimal void periods for properties!
On average in the UK, a rental property is vacant for about 22 days before a landlord can find a new tenant, while in Aberdeen it can take up to 33 days! This is bad news for landlords, who could lose out on about £547 in rent while their properties are unoccupied.
Even in Birmingham, the city with the least average number of void tenancy days, properties are still unoccupied for 11 days.
Which brings us to our fantastic news, at CPS Homes the average period which our rental properties are empty for is only 3 days. That’s 19 whole days less than the national average, and 8 days less than the city with the lowest average!
In fact, if it wasn’t for cleaning periods, we’d feel comfortable saying that our void periods would be even less. We accept that’s a bold statement when our average property is occupied for 362 days of the year!
As one of Cardiff’s leading letting agents, we understand how important it is to our landlords that their properties are occupied for as long as possible so they aren’t losing out on any buy-to-let earnings.
Landlords whose properties are managed by us benefit from our marketing exposure across the city, and we make sure that CPS Homes is the first name on any potential tenant’s lips when they’re thinking about renting a property.
We also have a dedicated maintenance team that keep things in your property running smoothly pre- post- and mid-tenancy. This, along with the advice that our property advisors can offer to landlords means that when it comes to renting properties in Cardiff, we’re the letting agency to beat!
If you are a landlord that wants to benefit from our near year-round property tenancy, or if you’re a tenant who wants to find out why our properties are so widely desired then get in touch today. You can either contact us online, email us at: email@example.com, or pop into one of our three Cardiff branches, in Cathays, Roath and Cardiff Bay. Landlords can also benefit from our free Agent Switch Service!