What can you do with your empty home?
Make your empty property work for you.
There are a number of things you can do to ensure your empty home is brought back into use:
If you have the resources and skills to refurbish your property or have a reliable contractor you can use for redevelopment, then you could bring your property up to a decent standard and then either sell or let the property.
This way you will recoup any costs you’ve incurred and have some cash in the bank. We can give you advice on achieving decent standards particularly if you’re looking to rent out the property after development.
There is some useful guidance on the Federation of Master Builders consumer’s website.
Ideal if your property is in a good state of repair with only minor work required to make it suitable for letting.
You can let your property in 3 ways;
• Become a private landlord and manage the property yourself
• Employ a letting agent to let the property and take over the management of the tenancy
• Lease your property
If you are thinking of employing a letting agent you can obtain useful information from:
If you would prefer to manage letting the property yourself then becoming a member of a landlords association offers support and gives you access to a wealth of information.
If you neither have the time or inclination to manage the property yourself and would rather have the capital then you could sell the property in any condition, either using an estate agent or by auction.
Use your local estate agents’ knowledge to ensure you get the best price.
Even if the property requires a lot of work doing to it, estate agents often have lists of developers keen to take on dilapidated houses for redevelopment.
Occasionally local housing associations may be interested in buying your property; contact us for further details.
Whatever you do, make sure you don’t leave the house empty, particularly if it is in very poor condition. Failure to do anything will likely result in enforcement action being taken against you and potentially you could lose management and/or ownership of the property altogether.
For more information please contact Housing Services using the contact details below or ask for one of our Empty Homes advisory leaflets. These can also be downloaded from our website.
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