The UK is currently going through a housing crisis. With rent and mortgages increasing, the cost of living is becoming higher and causing severe distress for Brits.
A reason why landlords can charge so much for rent is simply supply and demand. There are not enough properties on the market. Therefore, landlords can charge what they want and still be assured someone will rent their property.
Empty properties in the UK
Contrary to what other sites report, the UK has an abundance of empty properties. Over 268,000 properties have been classed as “long-term empty” which is a property which is left unused for over six months. Assorted outlets claim that this huge number is small so more properties become developed. Properties developed by companies in which the outlets have stakes. But where is the sense in that? A quarter of a million properties are sitting useless with many perfectly ready to have inhabitants move in. We need to revitalise the existing properties instead of building new homes.
The impact of an abandoned property
If left for a long time, the impact of empty properties can be severe. An empty property is always a target for illegal activities due to the fact there is rarely anyone to catch you. Vandalism is rife with empty properties which in turn can cause damage to surrounding areas and properties. Moreover, breaking and entering can lead to squatting. Not only can this cause damage, but removing squatters from a property isn’t easy. With damages like this ongoing, the value of the property decreases, which in turn lowers the value of surrounding homes by association.
In addition, leaving a property empty for too long can cause irreparable damage. With pest and damp increasing over time, the work and cost to resurrect this property may not be worth it.
The most common reason properties are abandoned is because the owner passes away. Normally, family members will then take on the estate and deal with the remaining property. However, if someone passes away without a will or any known family, the property can sit and gradually become forgotten. This is where Blanchards come in. We specialise in tracing owners or their next of kin to empty properties. If the owner has died, we can trace the beneficiaries of their estate and engage with them directly to bring the property back to use. Similarly, if the owner is still alive, we can contact them and try to resolve the property’s issues and offer informal advice and support. We will aim to provide a solution that preserves the property’s value for the benefit of the owners or their heirs. If you know of an empty property in your area or have a friend that has passed away leaving a property, please contact us.
This article was submitted to be published by Blanchards Inheritance as part of their advertising agreement with Today’s Wills and Probate. The views expressed in this article are those of the submitter and not those of Today’s Wills and Probate.