Landlords - could this be you?
Mary-Anne Bowring 17/11/2023
1386
Landlords - could this be you?
Private landlords in the London Borough of Barnet are being offered a grant to help them bring empty homes back into use.
Anyone who rents property in London knows housing is in short supply so it is great to see a council bringing empty homes back into use as soon as possible. It is also refreshing to see a local authority putting its money where its mouth is and offering a financial incentive to get the ball rolling. The good news for landlords is that up to £25K is on offer to help get their properties into the rental market; either by refurbishing them or converting commercial properties to residential use.
One-Bedroom Property
Of course, the size of the grant on offer depends on the property in question. At the moment, £15, 300 is up for grabs for a one-bedroom property, £20,400 for two bedrooms, and the full £25,000 for three bedrooms. To get their hands on the money, landlords have to agree to rent their properties out once works are completed–but to add incentive, an extra £2, 500 is available to anyone signing up by 30 November. So if you live in Barnet and have an empty property–or more than one–in your portfolio, do not hang around.
To apply for an Empty Homes Grant, call 0208 359 4359. In addition, who knows, if the initiative proves successful, other London boroughs may follow suit. Here’s hoping!
Planetrent Properties
info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.