If you’re the owner of a commercial property, there’s plenty to be unnerved by at the moment.
Business rates in particular are a huge expense, and paying rates on a vacant property? A daunting prospect to say the least.
The biggest hinderance in our list, and probably the most obvious, is the expense to the property owner.
After a certain amount of time, vacant commercial properties become liable for business rates.
So without a tenant taking up residence in the property, there’s no income to balance out the outstanding empty rates payments.
As a result, many owners are forced to sell their commercial property, sink into debt or declare bankruptcy – a terrifying prospect indeed.
TOO MANY COMPLICATIONS
There is some relief available to commercial property owners on the empty rates they’re charged – which sounds like good news at first.
Attaining this relief, however, requires a lot of effort on the part of the property owner, with many hoops to jump through and a whole bevvy of complications.
Without support, the road to relief is seemingly inaccessible to anybody without expert knowledge on the subject.
Cue lots of hair pulling…
With such strict time limits in place before empty rates become due, as well as complicated processes and the search for a new tenant, many commercial property owners find themselves buckling under the immense pressure.
This pressure can result in many sleepless nights, unnecessary stress and difficult decisions about the future.
All in all, empty rates sound quite frightening, don’t they? Well, luckily FCS is here to cure the empty rates nightmare and put to bed any worries UK commercial property owners might have. We take on the liability of an empty commercial property immediately and for the duration of its vacancy. That means, whereas we can’t stop ghosts taking up residence, we can prevent any frights in the form of massive bills and complicated paperwork.
With all that pressure taken off them, commercial property owners can instead focus on securing a new tenant and doing what they do best.
If the thought of empty rates is terrifying to you, don’t wait around: give FCS a call or explore our website to find out more about how our service can dispel nightmares and give you the sweet dreams you deserve.