Research has revealed that 90% of landlords do not take into account the financial impact of void periods when letting their property according to the National Landlords Association (NLA).

When covering the cost of a rental void period some 19% of the landlords with just one property said they use their day job earnings, 17% use their own savings or personal resources and 16% just accepted it or didn’t do anything about it.

Carolyn Uphill, Chairman of the NLA, said: “It’s imperative that prospective landlords don’t underestimate what they’re getting into.

“We’ve always said that being a landlord is a business and to run it successfully means you have to plan for the future to make sure you avoid the pitfalls such as voids.

“We recommend budgeting for 10 months’ rent in any 12 month period to allow for missed rental payments and voids. It’s also essential that landlords carry out checks on potential tenants to minimise their risk of non-payment.”

Portfolio landlords are the most likely to be able to cover the financial deficit, with 25% saying they use profit from other rented properties. Among those landlords who responded to the research, 34% overall said they had experienced a void period in the last 12 months.