Why you should act
There are a number of very good reasons for using your empty property.
Action against owners of empty properties.
Councils are looking at how they can best use existing resources so they are more likely to take action against you if you own an empty property.
For example, with the introduction Empty Dwelling Management Orders to deal with long-term empty housing, you could be at risk of losing control of your property unless you can show you are taking action to bring it back onto the market. A local authority can begin proceedings with an owner if a property has been empty for six months or more. In the first instance they will endeavour to find out why the property is empty and if it fits one of the exemption categories. If it doesn’t, they will then offer the owner assistance to bring the home back to use. Only after these stages have been completed, can a local authority contemplate a management order. Before an interim management order is granted by the Residential Property Tribunal, it will need to ensure that all of these steps have been taken. This will be much longer then six months.
Letting out a house or flat can give you a valuable income, or selling it can mean a large windfall.
Sitting tenants are no longer a problem. Changes in the law to create assured short hold tenancies mean that you are guaranteed vacant possession of your property if you decide you no longer want to rent it out.
If you don’t want to manage tenants yourself, we can help you to get an agreement to lease your property with a local housing association (registered social landlord).
Many house-hunters are looking for properties to renovate themselves – your property needn’t be in excellent condition to interest them.
The condition of empty properties deteriorates rapidly and they cost more to insure and provide no income. Even without the cost of vandalism and depreciation (loss of value), keeping your property empty could be costing you as much as £135 a week (that’s £7,018 each year).
Using your empty property will not just benefit you. There are important social and community benefits too. Empty properties:
• are a waste of a valuable housing when many people desperately need good homes
• can attract antisocial behaviour like graffiti and fly-tipping
• provide shelter for drug users and
• affect the value of nearby houses.
So act now.
We look forward to hearing from you.