Although it remains one of the most popular Boroughs in London, hundreds of privately owned homes in Camden are left vacant. The recent Empty Homes Week 2017 revealed how bad the issue is, stating there are over 950 properties. The event did not focus solely on the problems though. It also gave the local council the chance to detail the work they are doing to return these properties to a standard where they can be used to house residents in need.
In terms of investment properties Camden has plenty to offer, including a good number of larger Victorian terraced homes. Sadly some buyers purchase them without the ability to renovate and return them to the market. This can leave them to deteriorate over the years. The council is taking more action to help, offering to provide financial assistance in return for using the homes to house local families in housing need.
There have been a number of successful projects for Camden Council to be proud of. One involved two dilapidated properties on Malden Road. The owner left them empty for two years before revealing plans to turn them into six flats. The local authority’s Empty Homes team provided support and some funding after agreeing a deal for three flats to be offered to local families for three years. The other property was secured for ten years at a later date.
The council has also taken action against long term vacant properties. One of these on Regents Park Road had been unoccupied for 21 years and seemed to have been abandoned. The local authority started the process for Compulsory Purchase in June, showcasing their enforcement powers.
Camden Council can offer help and advice to landlords who own an empty house. They are seeking to improve how the housing stock in the Borough is managed and will do all they can to help improve standards.
At Finefair we also provide assistance to landlords. We are proud to offer flexible services and have the skills to effectively look after investment properties Camden buyers need help with. Contact us to find out more about what we can offer.