If you own a property which is currently empty, there are a range of options available to you:
You can sell your property through a local estate agent. We can provide you with a list of agents in your area or can arrange for valuations to be carried out, so that you have a clear idea of its current value.
Or, you can sell your property at auction, which is often quicker. Auctioneers are quick and decisive, with a binding contract on the fall of the hammer and completion usually within 28 days. They are particularly appropriate for properties in poor condition which are not mortgageable, as auctions attract developers, local builders and cash buyers. We can sell the property at auction for you, and you’ll benefit from a reduced percentage charge on fees.
We can advise you free of charge on the level of the works needed and can advise you on suitable agents, including our Home Improvement Team, who can manage the renovation works on your behalf.
We can also advise you on methods to raise finance to undertake the work, including equity release schemes, development loans, buy-to-let mortgages and any potential tax implications.
Rent it out
If the property is in a good, well-maintained condition, you could be generating an income by renting out the property. Read about Local Housing Allowance which will give you an idea of the level of rent you can expect for your property. We can also provide you guidance on managing the property yourself.
Don’t forget, if the property is rented out, your tenant becomes responsible for paying Council Tax, saving you up to £1,200 a year.
We also run a Social Lettings Agency, where we act as your agent and let the property for you. For a management fee of 8% of the rent we will:
- Find tenants
- Set up shorthold tenancy
- Manage rent collection and payments to you
- Carry out management visits to the property
- Take action to end the tenancy if there are serious problems with the tenant
Lease it out
You could lease your home to us, or one of our Housing Association partners for a fixed period of time, so that we can use the property to provide short-term accommodation for people who are waiting for something more permanent.