By In response to the changes announced by The Department for Levelling Up, Housing and Communities regarding changes to the second home council tax, Tim Lowe, Founder of The LOWE Group comments:
“I am constantly astonished by the significant number of vacant buildings scattered throughout London and surrounding boroughs. Many of these properties could serve a far more purposeful role by providing housing to young professionals struggling to secure affordable accommodation in the capital, or for key workers who are indispensable to the city’s daily operation, including those in hospitals, schools and shops.”
“The escalating rental costs are not only a barrier to entry for these workers but also deter them from employment opportunities in London altogether due to the prohibitive living costs. These vacant buildings represent a potential solution.”
“The LOWE Group manages properties on behalf of owners across London and the South East. Numerous advantages for property owners often go unrecognised. Entrusting responsible individuals to take care of empty properties not only protects them from unwanted squatters but also prevents dilapidation. Additionally, there are considerable benefits in terms of mitigating business rates by 80%.”
“I would urge homeowners that are now faced with rising costs to look at alternative options that could simultaneously benefit society.”
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