0:02 AM, 10th December 2024, About A year ago 36
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I own a property in Dorset which has now been on the market for 5 years since my tenants had to move out due to bad mould and damp caused by a leak in the roof that was giving them health problems.
As I am not able to re-let the property, as it is F rated for energy efficiency, the house is vacant and unoccupied.
The amount it would cost to get the property up to an E rating is beyond my budget due to the amount of work involved and cost of renewing the roof and getting rid of deep rooted mould requiring all walls to be stripped back to bare brick and insulated.
To date, I owe the council £22,188 which I have agreed to pay once the house is sold through my solicitor. I have been through the Tribunal process but it seems as though the council are powerless to use their discrepancy in such cases (even if they wanted to). However is it fair and reasonable for councils to charge Long Term Empty Home Premium to landlords in my situation (currently 200% premium for homes empty for at least 5 years) or are they just profiteering from our misfortune?
Is it not time the government stepped in with a Bill to prevent this happening. An Empty Dwellings Bill to protect owners of homes that are genuinely on the market for rent or sale so that the premium is not used to penalise landlords who cannot re-let their properties? The nightmare for me is that the longer I cannot sell the property, the bigger the debt to the council for a house that I cannot use or live in.
Any advice would be greatly appreciated.
Thanks,
Nigel
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Reluctant Landlord
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Member Since September 2018 - Comments: 3398 - Articles: 5
13:04 PM, 10th December 2024, About A year ago
Reply to the comment left by Raz at 10/12/2024 – 11:13
beware some of these schemes only lend you the money and require you to have something put on your deeds so at the point of sale the loan from the council ia paid back!
Nigel Ives
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Member Since June 2024 - Comments: 10
13:24 PM, 10th December 2024, About A year ago
Reply to the comment left by Reluctant Landlord at 10/12/2024 – 13:04
That is good cautious advice thanks.
Cider Drinker
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Member Since December 2023 - Comments: 1527
16:12 PM, 10th December 2024, About A year ago
Reply to the comment left by Reluctant Landlord at 10/12/2024 – 13:04
Is the scheme dodgy if it expects your debt to be paid as agreed?
We are not tenants.
Frank URQUHART
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Member Since October 2024 - Comments: 13
18:08 PM, 10th December 2024, About A year ago
Reply to the comment left by GlanACC at 10/12/2024 – 10:40
I agree 100%. With previous experience in the property market, as a selling agent, if a house does not sell, it is overpriced. No other reason. The reason it is overpriced is simply down to unreasonable expectations by the seller.
Dino Saw
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Member Since March 2023 - Comments: 30
18:28 PM, 10th December 2024, About A year ago
I’m sorry for your situation, however, to have a property for sale for 5 years is a bit ridiculous you are clearly not marketing the property at the right price and if it is empty the condition will be getting worse and worse every day causing the value to drop every day.
The suggestion on here to go to auction I think
Is an option which you should look at as the longer you are not marketing the property at the correct price your debt is growing.
At the moment, without knowing the full story, it looks like because the pricing of the property is wrong you are losing money as debt to council. Property conditioning worsening and property price dropping…. You need to take control and stop this by marketing at the correct price….. everything sells at the correct price that is a given fact.
Can you share a link to your property on the property portal your property is being marketed in eg rightmove? Zoopla. On the market etc to name a few.
If you can share a link I’m sure you could get some advice about pricing strategy and you will be doing a bit of market research on what people think it’s worth which may help you make a decision when you know what other people think.
Anyway, best of luck but it would be good to see a link to your property to get more and better informed advice from people.
Frank URQUHART
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Member Since October 2024 - Comments: 13
18:55 PM, 10th December 2024, About A year ago
Reply to the comment left by GlanACC at 10/12/2024 – 10:40
100% As someone who has had previous experience in property sales, if a house does not sell within a reasonable time (3 months or so, market dependent), it is overpriced. Sellers most often have unreasonable price expectations, and in many cases, the sales agent simply is not prepared, or bold enough, to point this out to them.
Smiffy
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Member Since December 2021 - Comments: 159
18:37 PM, 12th December 2024, About A year ago
Just register it in a random name and wait for a regular bill to arrive, then pay that. Let them think it is occupied.
GlanACC
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Member Since March 2023 - Comments: 1466
19:34 PM, 12th December 2024, About A year ago
Reply to the comment left by Nigel Ives at 10/12/2024 – 12:21
Nigel, I sold to a company called Tramperley LTD. What they did was purchase the property in 14 days and then they did all the searches etc and put it back in an auction and sold it at £9k profit. That didn’t bother me as I got shot of it very quickly because by that time it was costing me a fortune in minor repairs (water leaks, window issues, electrical issues)
Nigel Ives
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Member Since June 2024 - Comments: 10
20:27 PM, 12th December 2024, About A year ago
Reply to the comment left by GlanACC at 12/12/2024 – 19:34
That is good to know, I will look them up and see what they can offer me.
Keith Wellburn
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Member Since March 2024 - Comments: 267
22:28 PM, 12th December 2024, About A year ago
Is this area being hit with an exodus of owners selling up due to the separate issue of double council tax from next April on furnished second homes and the ending of the furnished holiday let tax regime that allowed genuine holiday lets to be taxed as trading businesses?
Even so, this property should have been away in the post Covid stamp duty holiday boom and a good agent given scope to price and market accordingly should achieve a sale in any conditions. (I’ve sold my portfolio of 14 in ones and twos since 2015, through Covid, Truss base rate rise to 5.25% etc some exceeded expectations others heavy going).
I would personally not go near quick sale buying companies – heard tales of last minute price cuts – and the discount they obviously need to secure as their business model is off the property as is irrespective of what it’s worth renovated. If they are bona fide they would expect and deserve profit over and above what they could buy at auction themselves and may even sell the property as is through an auction.
The market will be sick and tired of seeing your property after five years so a change of agent is rather pointless. If it were mine, I have to say I doubt I’d be where you are now – but I would put it in the hands of a property auction company with national or at least regional coverage and of course a realistic reserve.