In a recent study conducted by London lettings and estate agent, Benham and Reeves, it was found that merely 2% of current buy-to-let (BTL) sales listings in London come with existing tenants, underscoring the challenge of securing properties with occupants already in place.

Benham and Reeves examined market data to analyse the availability of BTL properties across England, specifically focusing on listings with tenants already in situ. Regional disparities in such investment opportunities were also noted.

The findings revealed that nationally, there are just over 11,000 rental properties offering the convenience of a ready-made tenant. The North West emerged as the region with the highest proportion of pre-tenanted BTL investments, accounting for 21% of the total.

Following closely, the South East claimed the second spot with 16%, while other regions such as Yorkshire and the Humber, the East Midlands, the East of England, and the West Midlands showed a similar degree of tenanted property availability, ranging from 11% to 14%.

However, the South West and North East lagged behind with only 5% each of the national total, indicating limited pre-tenanted buy-to-let options in these areas.

Marc von Grundherr, director of Benham and Reeves, commented, “Void periods can pose significant challenges for buy-to-let investors, impacting the earning potential of their investment. Therefore, a tenanted property presents an attractive opportunity, allowing for immediate rental income."

He added, “While London may have the lowest proportion of tenanted property availability, the rapid uptake of any available stock in the capital’s rental market ensures that landlords need not be overly concerned about prolonged void periods."