2021 Business rates on empty properties
01 July 2021 at 00:00
No landlord or property owner wants to pay business rates on a property that is sitting empty. Due to the coronavirus pandemic, many businesses have closed their doors through no fault of the business itself. Businesses across every sector have lost out on important revenue throughout the pandemic, and having to pay business rates on top of this has resulted in huge losses and difficulties.
The government decided that business premises that had to close due to the pandemic would be counted as occupied properties and therefore offered business rate mitigation for the 2020/2021 tax year up until June 2021, after which a 66% reduction is being offered until March 2022. This is good news in the short term, but the impact of having to close due to coronavirus may have long-lasting consequences on countless businesses, who may find it harder to recover once they have to start paying business rates again. If you have a commercial property that is sitting empty and you’re worried about having to pay full business rates, choosing to have your property occupied by Live-in Guardians could be the ideal solution.
By having your building occupied by vacant property Guardians, not only can business rates be avoided but your property can be kept safe from security threats. Once we approve your property, Live-in Guardians will outfit the interior with all the necessities for residential living and our hand-picked Guardians can move in. Guardians occupy your building around the clock, treating it like a traditional rental property and keeping it clean and maintained, reporting any maintenance issues directly to our team. Guardians can help to grant you peace of mind, as keeping your property safely and legally occupied is the best deterrent for criminals such as squatters or thieves who may have otherwise targeted the empty property.
However, we understand that circumstances can change which is why we offer short term solutions. Our Guardians sign an agreement with a shorter notice period than a traditional rental, so if you should require the use of your property again for its intended purpose we can return it to you at short notice and in the same condition as it was given to us. If you are unsure about the future of your property, keeping your property legally occupied by Live-in Guardians can mitigate business rates, when combined with our expertise and industry partnerships. In turn, reducing your outgoings in the short-term, until a long term solution is reached or until you are able to open for business again.
Live-in Guardians aims to offer innovative live in property protection that benefits both the business owner and the Guardian. If you’re a vacant property owner worried about having to pay business rates again, we can offer a business rate relief solution that can help to keep your property in great working condition. Save money on business rates as well as on security options, all while offering young professionals affordable city living solutions. Get in touch today and see how we can help you protect your investment and help you save up to thousands in business rate and security costs.