Unlocking the rental potential from empty homes

From 1st April, empty homes in England will be subject to an additional premium of 100% council tax as part of tax reforms aiming to bring properties back into use.

The latest data from Action on Empty Homes for 2023, reports that over 260,000 homes across England are deemed to be long term empty properties.

The number of empty homes in Ipswich saw a slight drop from the previous year, but the records still show that 356 properties in the Ipswich Borough Council area are long term empty properties. This does not include second homes and means 1 in every 174 properties has been empty for more than six months. Many will have been empty for far longer.

As one of the largest letting agents in the local area, at Pennington we know too well about the shortage of supply in the private rental sector, as demand continues to outstrip the number of available properties.

With the imminent tax changes, which will be on top of the 100% council tax some property owners are already paying, it is a good time to highlight the vacant properties we have locally which could make a real difference to those looking to rent. Many empty properties have potential to be brought back into use and we can advise and work with the property owners to make that happen.

Making more homes available not only means they are available for rent but also that the properties are being looked after and protected from further deterioration. A vacant property is often the target for vandalism and other criminal activity too so local communities benefit from having fewer empty properties which always helps in transforming or maintaining their neighbourhood.

As well as impacting the rental sector, lack of supply is also a major issue for those looking to buy so all opportunities must be taken to do more to manage the existing and underused stock.

Bringing empty properties back into use really is a huge benefit all round, it is providing a much-needed home, avoiding the additional planned council tax premiums and generating an income for the owner.

For more information on how to get an empty property back into use contact us.

Contact us –

Tel: 01473 214343
Email: info@pennington-online.co.uk
Or come and see us at 45 Woodbridge Road East, Ipswich, IP4 5QN