Void costs?!
As someone who’s recently transitioned to the U.K after a few years working in NYC, can someone please explain me the concept of void costs? After a day, my understanding is that it’s basically opex that is not attributable to reimbursements due to vacancy, but I’m so lost...
Or wait, is it what we call Absorption & Turnover Vacancy in the U.S? I’m so confused...
Google says it's just vacancy
Thanks for your response! So that’s what I found on Google as well, but I’ve seen it listed under Opex so got kind of confused. I thought maybe it could be fixed opex costs that you won’t be able to get reimbursed since there is some vacancy, but haven’t been able to verify
Void costs in the UK are usually service charge and business rates, I.e costs a tenant would be paying if they were in occupation of the property.
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