Why are empty homes a problem?
Empty homes cost their owners money in Council Tax, insurance, repairs and security but don't produce an income. Keeping a home empty can cost £10,000 a year (including lost rental income).
Empty properties can cause other problems, such as:
- The condition of the house deteriorates further;
- It could be targeted by vandals, arsonists, squatters and fly-tippers;
- It can attract vermin;
- The value of neighbouring properties may be reduced by up to 10%.
By bringing an empty home back into use the risk of vandalism and squatters is reduced. It also improves the look and feel of the neighbourhood and generates income for both the owner and the Council.
Most importantly, housing is in short supply in our area, and bringing empty homes back into use means more people can find a home here.