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 in London knows housing really is in short supply so its great to see a council bringing empty homes back into use as soon as possible. It’s 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. 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. Obviously, to get their hands on the money, landlords have to agree to actually rent their properties out once works are completed – but to add an additional 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, don’t hang around. To apply for an Empty Homes Grant, call 0208 359 4359. And who knows, if the initiative proves successful, other London boroughs may follow suit. Here’s hoping!