Waltham Forest Council launched a unique scheme in the autumn of 2016 to help improve their housing stock and ease problems with overcrowding. They are converting lofts in council properties to make additional room, ensuring the unused spaces are put to good use.
When launching the project the local authority identified around 30 initial properties that were appropriate for loft conversions. The work began shortly after this and the first projects are expected to be completed early this year.
The idea of converting lofts in suitable properties is a good one and would help to increase the size of numerous homes. As a result they would become more appropriate for larger families, including those with older children who increasingly want their own space. With the projects more people will be saved from having to move to a new area, potentially avoiding problems for schooling and jobs.
During the work tenants are not required to vacate the property. The projects can be accomplished with the minimum upheaval and the workmanship is being done to the very highest standards.
As part of the loft conversions additional insulation is being installed in the properties. This will help to make the new rooms more comfortable and also helps to reduce heating bills.
Once the work is completed families will see a 20% increase in their rental costs. In time this will pay off the cost of the upgrades, making the projects sustainable.
At Finefair we always keep an eye out for projects like the one above that help to improve the quality of housing in an area and satisfying the needs of tenants. We do both of these things when we provide block management in Waltham Forest, ensuring we deliver the best services for all parties. We can even help our clients with council leasing if they want to make their property available for council tenants.
If you would like to find out more about what makes our block management in Waltham Forest such a great service for investors with several properties in the area please get in touch. We are always pleased to help.