A lot of people think landlords have it pretty easy – we know different. From rates and council tax and how that affects your rent and tenancy needs, to getting the right people in the right properties, and of course dealing with everything that seems to go wrong. It’s certainly a full-time job, and the last thing you want (whether your properties are mortgaged or not) is to be faced with the prospect of an empty property for more than a month…

But first, let’s talk about the costs, excluding the punishing loss of rent income…

Let’s Talk Tax

Properties that are vacant are exempt from council tax for a month after they become vacant, after that they pay normal tax rates for 23 months, and after two full years and going forward, their rates plus a fifty percent vacancy penalty. Let’s do some sums:

Cumulative Tax Payments

Average Council Tax*: £1671
Vacant 0 – 30 Days: £0
23 Months at 100%: £3,202.75
Annual at Month 24+: £2506.50

TOTAL LIABILITY: £7380.25+

*England Average Council Tax1 at band D

Let’s Talk Security

Vacant properties are at exceptionally high risk from vandalism, arson and squatting. If you walk down the high street of any urban centre, you’ll find the vacant buildings are the ones that are vandalised. Windows have to be boarded up in order to prevent them being broken, doors have to be reinforced to prevent brute force entry, and for particularly high-risk areas, an occasional or 24/7 active security patrol. We’ve researched some of the average costs you’ll face when securing your property:

• Repair and Clean-up after Squatters - £20,000
• Boarding up and Securing the Property – £51,000/a
• Monitored Alarm System - £64,000/a
• 24/7 Security Patrol - £129,000

Cumulatively – that’s over a quarter of a million pounds. Per property, per year.

Introducing live in caretakers and guardian property services

Our building guardians are carefully selected, highly responsible professional house-sitters that benefit from reduced rent in areas they live and work in. They will make sure that your property is secure, well-maintained, and act as a whole team of 24/7 security guards – keeping potential arsonists and squatters well away. We display signage around your property firmly stating that the property is under our protection, leaving you worry-free while you focus on deciding the future of the property.

The cost of building guardians to you: £0.00.

Our operating income comes from rent payments from our guardians.

Your Savings:

Tax – 50% as you won’t be paying a penalty rate.
Security – Up to £264,000 a year.

This is one of the reasons why Live-in-Guardians is one of the premier property guardian companies in the UK, saving property owners like you millions of pounds a year. If your property is, or is about to become vacant – see how many thousands of pounds you could save with us and Contact Us

Sources

[1] https://news.sky.com/story/average-council-tax-in-england-increases-by-5-1-as-adult-social-care-costs-rise-11306907 | Retrieved 26/08/19