B P Collins Solicitors: talk to the experts
Gerrards Cross: +44(0) 1753 889995
Beaconsfield: +44(0) 1494 675363
Related stories
Property repairs 'need to follow regulations'
1 December 2008
Landlords 'need input from agents'
1 December 2008
Mortgage lenders 'asked to review their advice'
28 November 2008
Tenancy agreements 'need adaptation and explanation'
26 November 2008
More short term lettings on the horizon?
31 March 2008
The Rating (Empty Properties) Act 2007 comes into force on 1 April 2008. Its main effect is to reduce the exemption from empty property rates. Prior to April, most empty business properties received 100% relief for the first three months of vacancy and 50% thereafter.
Under the new provisions there will be a six month rate-free period for industrial property, with fully occupied rates then becoming payable. If premises are reoccupied for a minimum of 6 weeks after a period of vacancy then the owner will receive a fresh initial exemption when they become vacant again. Quite an incentive to consider a short term let!
