Vacancy Cost Calculator
Work out the true cost of a void period: rent lost per day, re-letting fees, cleaning and the share of annual income it consumes.
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A void period costs more than the rent that did not arrive. There are re-letting fees, cleaning and repairs between tenancies, sometimes an insurance change, and the running costs that continue regardless. Together these routinely consume more of a year's return than any other single event.
Seeing the cost per day changes decisions. It is what makes accepting slightly less rent from a tenant who can move in immediately the better commercial choice, rather than a concession.
The calculation
Daily rent = monthly rent × 12 ÷ 365. Rent lost = daily rent × days empty. Total cost adds the re-letting fee and the cost of preparing the property between tenancies.
Worked example
At 1,600 a month the rent is about 52.60 a day. Forty-five days empty loses 2,367, and with an 800 re-letting fee and 200 of cleaning the void costs 3,367 — roughly 17.5% of a full year rent, gone in six weeks.
Why keeping a tenant usually wins
Against that 3,367, a 50 a month reduction to retain a good tenant costs 600 over a year. Renewing at a modest rent rather than pushing for the maximum and risking six weeks empty is very often the more profitable decision.
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Create your free property pageFrequently asked questions
How long is a typical void?
Two to six weeks between tenancies in an average market, longer for properties that are overpriced, in poor condition, or marketed at the wrong time of year. Assuming zero is the most common error in rental projections.
How do I reduce void periods?
Start marketing before the current tenancy ends, price at the market rather than above it, and make renewal easy for good tenants. Presentation and photography matter more than most landlords expect at the enquiry stage.
Should I include running costs in the void cost?
They continue whether or not a tenant is present, so they are not extra cost caused by the void. The distinct costs are the lost rent, the re-letting fee and the preparation work.
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