Research by the Guardian newspaper suggests that there are as many as 500,000 unoccupied houses in the UK; sufficient to accommodate 25% of the families on council waiting lists. The paper reckons that 450,00 of the total properties have been unoccupied for six months or more.
Housing charities would love to see these vacant houses renovated and placed on the let property market. In theory it should be much easier to improve existing properties than build new ones. The Royal Institution of Chartered Surveyors suggests that VAT should be reduced on costs incurred in refurbishing a derelict unoccupied property in order to encourage the owner to put it into a habitable condition.
If you own an unoccupied property you need suitable insurance. Make sure you are covered for your liability if a visitor is injured or someone’s property is damaged and they claim against you.
If you need unoccupied property insurance contact click4quote.