Unoccupied Commercial Property
Business Rates Advice for Empty Properties
Owning or occupying an empty property can be a real headache for landlords and tenants alike. The council will expect you to pay business rates even when you are not occupying the premises. An unoccupied commercial property therefore is a liability. But there are ways you can mitigate the costs depending on the situation.
Can I get any business rates relief on an empty property
The property rates payer, if the commercial property becomes empty, is entitled to 3 months business rates exemption. This allows the landlord time to find a tenant. You can get 6 months empty property relief if the property is considered industrial by its use. The 3 months relief is for smaller non industrial type properties, think retail, pubs and offices. Has the council given you 3 or 6 months unoccupied property relief, you need to check with the council to find out, if you are in doubt. If you are unable to establish if the council has applied the relief, give us a call to discuss how we can help you find out. Please note that you cannot claim small business rates relief on an empty property. The property must be occupied but the business does not have to be trading as the property can be used for storage purposes, tools etc.
How can you mitigate your business rates bill
If you are stuck with an empty commercial property you may want to consider mitigating your business rates. Mitigating business rates allows you to reduce your costs whilst seeking a new tenant. We can help you understand the mitigating process on a commercial property. Speak with Steve Adams on 07415048643 to find out more. All of our business rates advice is free.
Is there any other help for empty commercial properties to lower business rate costs
At this current point in time there is no other benefits or relief for an empty commercial property. Unoccupied commercial properties are expected to pay business rates. Call Business Rate Advisors on 01225667747 for immediate help with any business rate matter you may have.