At Finefair Ltd we work to give landlords and investors more choice when it comes to deciding what to do with their properties. Our main focus is guaranteed rent. It involves working with the council to arrange tenancies and more. In return you get a secure income with no concerns about voids. You can also get solutions to manage your assets. This can include the very best estate management in Tower Hamlets.

Rising vacancies

A report from the Department of Levelling Up, Housing and Communities from November tells a sad story about housing in England. In the last year the total number of long term vacant homes was up by over 20,000, reaching a total over 250,000. That is a horrendous number with the backdrop of a housing crisis and people struggling to find homes.

The figures show that the amount of homes that are vacant for the long term in London was up by 9%. It is one of the regions having the most trouble. Alarmingly, it also has the highest total population and highest level of demand.

However, it is not the same story for every part of London. Some areas have actually seen a big reduction in the number of vacant homes. Hackney is a big success story here. In 2021 it had the highest number of vacancies with 1,742, but in the last year that number has come down by 30%. Lewisham also had a 13% drop.

Unfortunately the increase in some boroughs has been very bad. Tower Hamlets is the worst offender by a very big margin. In the year the number of long term vacant homes has risen by 175%, rising from 550 to 1510. As one of the top names for estate management in Tower Hamlets, we know this is a terrible situation.

A major issue

The data shows this is the highest number of long term uninhabited homes in England for over a decade. The only time it was worse was the height of the pandemic when the housing market was completely shut.

Action on Empty Homes spoke out about the findings. The organisation is a major campaigner supporting the need to bring vacant homes back into use so they benefit the people who need them the most. They said the rise in vacancies shows England is failing to make the best use of the existing housing stock in the country.

What to do?

There are a number of reasons for long term vacant homes. Some are investment properties that owners never planned on occupying. Others are empty and the local council can’t trace the owner. Some landlords simply struggle to find tenants so they leave them empty.

The Government has made attempts to bring more back into use. One thing they have done is launch the New Homes Bonus. It is a grant they offer to local councils when they can bring vacant properties back to the market. Sadly grant payments have fallen by an incredible £66m. That shows local councils could be doing more.

We can play an active role in helping here. At Finefair Ltd we work with local councils and private landlords and help them to agree deals. This promotes guaranteed rent schemes. With them the property owner gets secure income and doesn’t need to worry about anything when it comes to managing the tenancies and properties.

Choose us for estate management in Tower Hamlets

If you want to explore options for guaranteed rent and property management, we would be happy to help. You can contact us for information about services and how you could benefit. Then, if you want to agree to work with the local council, we can arrange it.