If you have a property that has been empty for more than six months, our empty property private leasing scheme could be for you.
With empty property costing over £7,000 per year, the scheme is a cost-effective way to bring your property back into use.
Through this scheme we would lease your property for at least five years. The Gateshead Housing Company would manage the property and let it at an affordable rent. Affordable rent is set at up to 80% of market rent.
If you property requires improvements, we would carry out the works up to an agreed amount. We will recover the costs through the rent once we've let the property out.
After we recover the refurbishments costs, you will then receive the property rent. We will still charge a property management and maintenance fee until the end of the lease period.
During the lease period you will still be the owner, but you will not need to manage the property. During this time we will:
- invest in your property to bring it up to the required standard
- find suitable tenants
- deal with the administrative and legal side of the tenancy
- arrange normal repairs and maintenance
At the end of the lease period the improved property returns to your management. You then have the following options:
- let the property yourself
- sell the property
- ask the council to renew its lease
There are limited funds available for this scheme, and it's managed on a first-come first-served basis.
Offers are subject to the council agreeing the property is suitable for the scheme. Factors include the property's condition, size and location.
To find out more, email email@example.com.