The Problem of Empty Homes in the UK
It is estimate that there are nearly 1 million empty homes in the UK. Often landlords leave homes empty because they don’t want to spend any money on redoing their house. However, an empty house is likely to lead to a depreciation in your asset and gives no rentable income. If you have an empty house it is better to make use of it rather than leaving it idle for a long time. These are some options for empty houses.
- Approach council for refurbishment grant
- Approach housing association who may buy the house quickly or even offer support for refurbishment
- Let the house via the local council. They manage the letting side, you are responsible for external and structural repairs. the cost is usually 1/12th of the total rent.