Finefair has earned our reputation as a trustworthy business by providing honest advice and personal services. This in turn has helped us become the top team for guaranteed rent Barnet has to offer. We are in the perfect position to help investors make a healthy ROI.
Empty homes on the rise
Empty Homes, a charity that works specifically to track how many homes are empty in the UK, recently revealed some alarming figures. The number of long term vacant properties in London has reached a new high, exceeding 20,000 for the first time. In the last year the number has risen by more than 400 properties. The figure is even higher for the commuter belt around the capital, rising to 25,378.
The situation is a challenging one. Some homes have been bought as “buy to leave” with investors hoping to cash in when the values rise in the future. Others are empty because of dilapidation and the owners aren’t in a position to invest in them. In addition there are properties struggling with planning issues and even some where it is tricky to determine who the owner is.
It is clear more homes need to come back to the market. Empty Homes would like to see the Government being more proactive, including taking stronger action against investors. They would also like local councils to purchase more homes that have been vacant for an extended period and transform them into social housing.
Which areas are the worst?
According to the figures there are five London Boroughs that each has over 1,000 long term vacant homes. Sadly Barnet is at the top of the list. It is followed by investor hotspots like Camden, Croydon, Southwark, and Kensington & Chelsea.
Finefair appreciates the challenges landlords may face and the potential costs of long term vacancy. We can offer some services to help, including professional management and finding tenants. In addition we are the best for guaranteed rent Barnet has. As a result we can ensure a stable income.
If you would like to find out more about working with us please get in touch.