Empty Property in London? 5 Ways to Stop Losing Money

An empty property doesn't just earn nothing. It still costs council tax, insurance, standing charges and, often, a mortgage. Councils can also charge a premium on homes that stay empty long-term. Here are five ways to get it earning again.

1. Work out what it's really costing you

Add up the monthly costs: mortgage, council tax, insurance, service charge and utilities. Seeing the true cost of each empty month makes it easier to judge the options below.

2. Fix what's putting people off

Properties often sit empty because of a dated kitchen, tired decoration or poor photos. Small, targeted improvements can make a big difference to how quickly a property lets.

3. Re-think the price

A property that's been advertised for weeks without interest may be priced above the market. A small drop in asking rent usually costs less than another empty month.

4. Consider furnished, longer stays

Contractors, relocating staff and families between homes need furnished places for weeks or months at a time. Serviced accommodation can fill gaps that a traditional let can't.

5. Hand it over on guaranteed rent

If you want the property earning without involvement, a guaranteed rent company can take it on for a fixed term and pay you a fixed rent each month, whether it's booked or not. Many operators, including us, will also furnish it. Read how guaranteed rent works.

Don't forget the basics

Whatever you choose, make sure your insurance reflects the property's status, and keep safety certificates current. See our compliance checklist.

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