I'm an empty home owner, what should I know?
As an empty property owner you are losing money.
For example, the Council Tax bill for an empty property in Great Yarmouth based on a Band B property, left empty for a year, will cost on average £1,516.56.
This same property would increase to £3,033.12 in left empty for two years, £4,549.68 after five years and £6,066.24 after 10 years.
This coupled with the cost of insuring, securing an empty property and addressing any damage or illegal activities, can see costs escalating to unacceptable levels.
Compare this with letting a property at Local Housing Allowance rates (below market rent), that would provide an empty home owner with an income of around £6,060.00 (based on a two bed rate).