Bringing empty homes back to the market

Across London local Borough Councils are doing more to bring new life to vacant homes. The aim is to encourage owners to regenerate the properties and make them available at a time when demand for housing is very high and supply is lacking.

Lewisham has one of the worst reputations for vacant properties. According to official figures there are 939 homes left unoccupied in the Borough. An incredible 83 of them have been empty for over five years. Of these, four have been vacant for a decade.

There are two big issues with leaving properties unoccupied for the long term. Firstly, it decreases the housing stock in an area, potentially contributing to the amount of homelessness. Secondly, vacant homes attract anti-social behaviour such as vandalism and squatting. This can have a negative impact on an entire area and makes the properties even less likely to be returned to homes.

The local authority is doing a lot to tackle the issue in Lewisham. They charge 150% council tax on the empty properties, trying to encourage the owners to make them available and cut the rate. In addition, they were the first authority in England and Wales to introduce Empty Dwelling Management Orders. These implore the owner to make the properties available to tenants.

Plenty of people are drawn to the opportunities for property investment Lewisham has to offer. The area is central and locations to the south of the Thames are gaining ground in terms of price growth. There is also plenty of regeneration going on, creating new amenities and infrastructure.

If you own a vacant property and would like to find tenants there are a number of things you can do. One of them is to contact Finefair. We can arrange private or council leasing, letting the owner decide which option is best for them. Our management service are reliable too, ensuring we provide comprehensive support.

To find out more, simply contact us. We can answer any questions and offer our professional recommendations.