An Empty Property Grant is a discretionary grant, available to renovate and/or convert an empty property into residential units. In order to obtain the grant, you must be prepared to enter into a minimum 5-year lease with one of the Council's Housing Association partners at a sub-market rental level.
The property has to be empty, and to have been empty for at least six months. It does not have to be a dwellinghouse - redundant commercial or agricultural property may also be suitable for the scheme. As a condition of the grant, the property has to be put into a good state of repair. Costs eligible for assistance would include all necessary repairs, works to convert the property into two or more units (if appropriate), and all relevant professional fees (Planning Permission and Building Control application fees, architect's fees etc). The works have to be carried out in accordance with the Council's Flat Conversion Standard.
Owners of empty property which is in need of refurbishment, conversion or renovation, who are prepared to enter into a lease with one of the Council's Housing Association partners for a minimum five-year term.
The amount of grant depends on the length of lease entered into, up to a maximum of £24,000 per unit of accommodation.
In certain circumstances an interest-free loan of up to £10,000 (per scheme) may also be available.
The grant is not means-tested, it depends solely on the length of the lease and the cost of the works.
No. You will only be required to repay the grant if you break the lease agreement or other conditions of the grant.
The residents will be drawn from the Council Register of people waiting for accommodation.
During the lease the Housing Association is your tenant and it will take care of all management issues so you need have no worries about your property. You are guaranteed vacant possession at the end of the lease, and the property will be returned to you in good condition (fair wear & tear excepted).
There is no catch. This scheme benefits all parties - the owner gets help with essential repairs and renovations, and a secure income with no voids during the term of the lease. The Council and the neighbourhood benefits from the renovation of a property that may have been neglected and empty for some time. And people in housing need get newly-renovated homes at affordable rents.
A limited amount of grant funding is currently available.