Empty homes
The cost of owning an empty property
Empty Homes can leave the owner up to £12,937 out of pocket. Charges and lost income from an empty property include the below:
| Cost | Details |
|---|---|
| £4058 | Council Tax Council Tax on a Band D Property in Winsford is £2029, plus an additional 100% empty premium charge for long-term empty properties gives a total Council Tax bill of £4058. |
| £7139 | Lost Rental Income Using the Local Housing Allowance rates, a 3-bed property in Winsford gives a potential rental income of £7139 per year. |
| £1000 | Work in Default The potential costs for work carried out for failing to comply with notices served by us, including refuse and securing the property, could mean a liability of £1000. |
| £500 | Insurance Premium Leaving a property empty for more than 30 days poses more risk to insurers and therefore higher premiums. Building insurance cost an average of £230 in 2022, but the additional premium cost is likely to be up to £500 per year. |
| £240 | Utilities Charges Utilities charge for maintaining supplies even if there is no usage, giving an annual cost of £240 per year. |
| £12,937 | Total costing to an empty homeowner |
Other costs and issues to consider
- standing charges for gas, electricity and water, even if there is no usage
- specific insurance to cover empty properties
- damage caused through lack of maintenance
- risk of burst water pipes during winter
- garden maintenance and the potential removal of fly tipping
- risk of damage to windows or doors through vandalism
- risk of people gaining access to the property for various reasons e.g. drug use, squatting, theft
