How much can an empty property cost me?

An empty property is a wasted home that costs you money. It should be lived in by someone who needs it. It should be an asset to you and the local community.

Council Tax

Your empty property will cost you £2,049 to £5,268 a year. This is for council tax, utility standing charges, minimum insurance (if you can get it), and damage.

Council tax applies to empty properties from the moment they become empty. If they remain empty for a long time, an empty home premium is charged.

For empty unfurnished properties:

Properties that are empty and unfurnished for two to five years pay 200% of the Council Tax.
Properties that are empty and unfurnished for five to ten years pay 300% of the Council Tax
Properties that are empty and unfurnished for more than ten years pay 400% of the Council Tax

For empty and substantially unfurnished due to major repairs or structural alteration:

If the property is still empty after one year, the full charge increases by 100%.
If the property is still empty after five years, the full charge increases by 200%.
If the property is still empty after ten years, the full charge increases by 300%.

Rental losses

Now add the rent you could be earning if someone lived in it.

If you live in North or East Manchester the lost rent is:

2-bed flat: £4,740 to £8,700 a year
2-bed house: £4,200 to £6,780
3-bed house: £4,740 to £10,200
4-bed house: £6,540 to £13,200

If you live in South Manchester the lost rent is:

2-bed flat: £3,600 to £15,000 a year
2-bed house: £4,800 to £13,200
3-bed house: £6,300 to £18,000
4-bed house: £8,400 to £23,400

Your empty home can also have financial knock-on effects because it:

attracts vandals, vermin, crime and dumping, which you can be charged for
deteriorates faster and so will require more money to try and bring it back to a suitable standard
reduces in value

Homes and property Help with Empty homes