Empty properties – how can we help?

The Council actively encourages the owners of empty properties to return them to use. Empty properties are a wasted resource, they cost money to tax and maintain and represent a considerable amount of lost rental income. Balance this against the benefit of a regular rental income and the possibility of grant assistance to help bring it up to standard and the business case for returning a property to use becomes hard to ignore.

Grants

The Private Sector Renewal Strategy has recently been updated and it has improved incentives for landlords to seek grant assistance. The Empty Property Grant is made available to the owners of properties that have been empty for a period of six months or longer to allow the properties to be returned to use and let at affordable rents.

This grant is available at 50 per cent of the cost of eligible works up to a maximum of £5,000 per habitable room. Applicants will be expected to work with the Council and it’s partners to deliver affordable housing in the borough for a minimum period of five years. For more information see Private Sector Housing Renewal Strategy and Policy [PDF file] (File size 199 Kb)

Small Landlord’s Grants

The Council has set aside a sum of money to support Landlords who choose to lease their property to the Council via a Housing Association. The grant, a maximum of £2,000, is payable to the local housing associations operating the Housing Association Leasing Scheme (HALS) to help a landlord with the costs of minor repairs to bring the property up to the Council’s required standard. The grant can also be used to meet the cost of providing furniture, carpets and curtains. For further information, contact LETS rent action for homes.

Tenants and management

It is possible that sometimes the owner of an empty property does not wish to deal with finding tenants or managing that particular property. We can help here by providing both tenants and management through one of its preferred partners. This flexibility also allows us to deal with properties that are often hard to return to use such as Houses in Multiple Occupation.

We can create a scheme specific to the property to provide, for instance, Key Worker housing. A Housing Association Leasing Scheme (HALS) will free you from the day to day running of the property whilst guaranteeing you rent for 52 weeks of the year effectively removing the risks of the private sector rental market.

Short life housing

Where you have a property that is awaiting development or investment you might want to consider short life as an alternative way of using the property. This will provide tenants to occupy the property for a short length of time (not less than six months) and will guarantee vacant possession at short notice. The advantage of having short life tenants in a property is that it is that they will deter squatters and vandalism and will undertake basic repairs and maintenance to ensure that the fabric of the building remains intact.

EMPRO – The Empty Property Website

This website was developed by seven west London boroughs and is designed to put prospective landlords and developers in touch with long-term empty properties in West London. At a time of significant housing market pressures, it aims to provide a valuable new resource to help unlock the potential of empty properties at no cost to owners and purchasers.

If you own a property that you wish to place on the website then please contact the empty property officer in your area who will arrange for the property details to be entered and will help you to deal with the responses.

VAT Reductions

If your property has been empty for three years or over you will be able to claim a VAT reduction on the cost of refurbishment. VAT will be charged of a rate of 5 per cent instead of 17.5 per cent, renovation works to properties empty for over 10 years will be zero rated. H.M. Customs and excise will accept a letter from an empty property officer as proof that the property has been empty for the requisite amount of time.

Capital allowances (Flats over shops)

This is a scheme to enable property owners and occupiers to claim up-front tax relief on the whole of their capital spending on the renovation or conversion of vacant or underused space above shops and commercial premises to provide flats for rent. Further details can be obtained from the office dealing with empty properties.

Repeats information from paragraph on empty properties For further information about the issue of empty homes in London and the UK please contact the Empty Homes Agency which is an independent campaigning charity which exists to highlight the waste of empty property in England and works with others to devise and promote sustainable solutions to bring empty property back into use. www.emptyhomes.com.

For further information about the issue of empty homes in London and the UK please contact the Empty Homes Agency at www.emptyhomes.com.

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