Empty properties

Funding schemes

We  currently have financial assistance in the form of grants, to assist empty property owners with bringing properties back in to use. Conditions apply and are listed below:

  • The property must have been empty for at least one month, but as our funding is targeted at long term empty properties those empty for longer periods are of particular interest.
  • As soon as the works are complete, the property must be let to tenants nominated by the council for a minimum period of three years.* 
  • Properties are to be let through a Housing Association determined by the Council (see below**.)
  • Funding towards conversion works will be considered.

*Applicants can buy out of the letting condition during the 3 year period with repayment of the grant, with repayment requirement reducing over time.

Funding levels and leasing period

The table indicates the maximum level of funding available for your property. (Our funding is on a first come first serve basis and is subject to available funding and length of time empty). The works may include items essential to allow the property to be let and are subject to a formal application, estimates and agreement of eligibility. Any work undertaken prior to a written approval cannot be considered. Payment is made upon receipt of appropriate invoices and certification. 

For a three year leasing period

Funding  One bed   Two bed Three bed  Four bed
 Grant £7,500 £10,000 £10,000 £10,000

There may be an opportunity to increase the grant level, if you are willing to increase the leasing period, please contact us for further information.

Lease through a residential social landlord

These housing associations offer  guaranteed monthly rent, provide full management of the property and give the property back free from damage (except fair wear and tear).

**Orchard and Shipman - enquiries@orchard-shipman.com  0203 301 5993

VAT Exemptions

If you own an empty property and are planning to carrying out renovation works to the property, you may be eligible to received a reduced VAT rate for renovation works carried out at the property. If you are able to provide evidence to the HMRC that the property has remained empty and not been lived in for the last two or ten years, you should be eligible for a reduced rate.

Proof of the length of time the property has remained empty can be obtained from sources such as, the Electoral Roll, Council Tax records, Utilities Companies, Empty Property Officers from your Local Authority, or any other source that can be considered reliable.

There is more information about VAT exemptions for empty properties  on the HMRC website.

Contractors

Find a contractor, who may be able to assist with repairs.

Empty property

Email:

Tel: 020 8461 7678

Civic Centre, Stockwell Close, Bromley, BR1 3UH