The following question was recently submitted to our property experts by an individual looking for advice on how to deal with their property let. If you have got a question regarding your tenancy/property, contact us now via the link to the right.
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Q: Dealing With Empty Property Investments
I am struggling to fill my property. What would happen if I left my property let empty?
It may be tempting to leave your property empty, especially if you are struggling to fill it, but this could prove more costly as you will have to pay the mortgage, council tax, additional insurance charges, deterioration repairs and security yourself, whereas in the past your tenant would have paid it.
Similarly, the longer you leave your property empty, the more at risk it will be from vandalism, squatting and complaints for neighbours. Removing a squatter from your property for instance is not as simple as you'd imagine and can cost you a lot in legal fees.
If you are struggling to let your property take a moment to look at how you are advertising it. For instance, are you advertising it in the right places? Newspapers, letting agents or on the web? Make sure you are making your property let as visible to potential tenants as possible. Yes, it will cost you a bit to advertise, but leaving your property empty could cost you thousands of pounds every year.
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