Landlords - could this be you?
Mary-Anne Bowring 17/11/2023
2634
A New Grant for Landlords in Barnet
Private landlords in the London Borough of Barnet are being offered a generous grant to help bring empty homes back into use. This initiative is a positive step in addressing the housing shortage in London, where demand for rental properties continues to rise.
Why This Initiative Matters
Housing supply is a major issue in the capital, and it is encouraging to see a local authority taking proactive steps to make use of empty properties. The Barnet Council is not just talking about solutions—it is offering real financial support to landlords willing to help tackle the problem.
Up to £25,000 Available for Refurbishment
The good news for landlords is that grants of up to £25,000 are available to refurbish or convert commercial properties into residential units. This funding can help cover essential repairs, upgrades, and conversions to make properties rent-ready.
How Much Can You Get?
The amount of financial support depends on the size of the property:
- £15,300 for a one-bedroom property
- £20,400 for a two-bedroom property
- £25,000 for a three-bedroom property
Additionally, an extra £2,500 bonus is being offered to landlords who sign up by 30 November—a great incentive to act quickly!
What Are the Conditions?
To qualify for the grant, landlords must agree to rent out the property once the necessary renovations or conversions are complete. This ensures that the grant serves its purpose: boosting the availability of rental homes in Barnet.
How to Apply & Future Possibilities
If you are a landlord with an empty property in Barnet, now is the time to take advantage of this offer. To apply for an Empty Homes Grant, call 0208 359 4359. If this initiative proves successful, it could inspire other London boroughs to introduce similar schemes. More councils investing in bringing empty properties back into use could be a big win for landlords, tenants, and local communities alike. Here’s hoping!
Planetrent Properties
info@planetrent.co.uk
0208 0599 550 (for sales)
Under Offer: This term applies to a property where the landlord is considering an offer but remains on the market. It implies that further offers may still be considered until the landlord formally accepts or declines the current offer.
Let Agreed: This term indicates that a landlord has provisionally agreed to enter into a rental agreement with a prospective tenant, pending additional checks and referencing. It doesn't require the prospective tenant to have paid a holding deposit.
Let: This term signifies an established binding rental agreement between the landlord and tenant.
For both lettings and sales, the guidance addresses additional terms:
New On The Market: This term is used for a property not advertised since its last sale or rental. It should only be used for a brief period.
New Instruction: It applies to a property assigned to an agent for marketing recently, even if it was previously listed with another agent without being sold or rented.
New and Exclusive: This term refers to a property that is either new on the market or a new instruction, exclusively available through a specific agent or portal.
New Method of Sale/Let: This term is used when a property is being marketed for sale or rent using an alternative approach to the original advertisement, such as transitioning to an auction or sealed bid.
Reduced: This term indicates that a property's price has recently been reduced. The reduction should be genuine and comply with the Chartered Trading Standards Institute's guidelines on pricing practices.