The Cost of Owning Empty Homes in London

Empty homes in London and Essex are increasing, often reported by neighbours to reach the rightful owner/heir. Owning an empty property in the UK can come with financial repercussions. Unexpected costs might result from leaving a house unoccupied. It is crucial to consider this as a property owner. Rather than leaving it as empty homes in London, the best way will be selling it or choose rental services.


·         Long-term vacant houses or empty houses in London are subject to higher council tax rates.

·         The owners may be subject to a surcharge of up to 100% if their property has been vacant for more than two years.

·         This may rise to 200% for properties that have been empty for more than 5 year.

·         It can also reach to 300% for houses that have been unoccupied for more than 10 years.

The local authorities may intervene and take action if a property is left unoccupied for an extended period. Increased insurance costs are another significant expense related to vacant houses. Unoccupied properties are usually excluded from standard home insurance plans, and because of the higher risk of structural damage, fire, and vandalism, insurers raise prices.

Maintenance Cost

Vacant properties are resulting in expensive legal disputes and damages. Squatters and vandals often target such properties (although squatting on private property is against the law). However, evicting unauthorised occupiers can be costly and time-consuming. You need to secure the property with strengthened locks, CCTV, and alarms. For owners who live far away, employing a property management agency can help with home maintenance and monitoring. But, this can be costly and may require more money.

·         In the UK, owning an empty house can be more expensive than most people realise.

·         Consider renting, selling, or properly securing your property to avoid these financial dangers.

·         Taking preventive measures can ultimately save you money and worry, regardless of whether you own an investment property or a home that was inherited.

For advice on relevant programs and incentives, speak with your local council or a real estate specialist if you’re having trouble with an empty property.

Location: Coggeshall Rd, Braintree CM7 9BY, UK

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