Owners of vacant Plymouth properties are being offered a much-improved incentive to bring their house back into use.
This week is Empty Homes Week, a national initiative designed to shine the spotlight on a crucial issue of the current housing crisis.
To mark the occasion, the Council are re-launching the Repair and Rent scheme, aimed at property owners who may not have the time, skills or confidence to renovate a house themselves.
Landlords can now borrow up to £50,000 from the Council interest free with a 20 per cent grant element, improving the offer from the previous £20,000 cap.
As part of the scheme, local property agent Plymouth Homes 4 Let (PH4L) will help manage a schedule of works before putting them out to tender on the landlord’s behalf. They will then manage the renovation, arrange occupation and rental collection which will be used to repay the loan to Council.
The owner will then sign a sole agency agreement with PH4L to rent at Local Housing Allowance rates. In return, 20 per cent of the renovation cost will be in the form of a non-repayable grant.
Previously, the scheme required a property to have been empty for at least a year, but the criteria has now been reduced to six months.
Councillor Chris Penberthy, Cabinet Member for Housing, Cooperative Development and Communities, said: "I'm really pleased to have revamped and improved the Repair and Rent offer to landlords.
"Quite simply we need more houses and we need more houses fast. As part of our empty homes strategy, as detailed in the Plan for Homes, we are trying to explore any and all options we can for encouraging empty homes back into use.
"Our housing team are already proactive and engage with the city’s most troublesome empty homes all year-round but I'd encourage any landlord or empty home owner to get in touch to for advice and guidance on how to bring your properties back into good use."
Other empty homes initiatives available include:
Empty Homes Financial Assistance: Landlords can apply for a loan of up to £50,000 per unit, which is repaid via subsequent rental income, providing that the empty home owner undertakes to project manage the renovation themselves.
Sales Service: Our Sales Service helps landlords and developers by offering a reduced rate with partners Auction House South West when referred to them through the empty homes team.
More information on our empty homes team is available at plymouth.gov.uk/emptyhomes