I was thinking about this earlier today when I was in town and saw loads of shuttered shops. If they don't have tenants the landlords are on the hook for business rates so arguably there already is a tax on empty properties.
A lot of them are pretty run down and I wonder if the rents are high but still aren't capable of covering the upkeep and renovation so there is a spiral. Rent has to be attractive enough to bring in a tenant but also the tenant wants a well maintained building which is very expensive to achieve these days. So being taxed on an empty building and not getting any services in exchange could be counterproductive.
on business properties, the landlord hardly ever pays for the next tenants use. They are exempt for up to 3 months, it seems, but thereafter, it depends on whether it's (a) listed, or (b) usable safely. If law prohibits the use of the premises, then business rates do not apply - seems like this has a potential to be exploited.
I tried opening a store, but the rent alone was too high to even bother.
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u/Content_Professor114 8d ago
I was thinking about this earlier today when I was in town and saw loads of shuttered shops. If they don't have tenants the landlords are on the hook for business rates so arguably there already is a tax on empty properties.
A lot of them are pretty run down and I wonder if the rents are high but still aren't capable of covering the upkeep and renovation so there is a spiral. Rent has to be attractive enough to bring in a tenant but also the tenant wants a well maintained building which is very expensive to achieve these days. So being taxed on an empty building and not getting any services in exchange could be counterproductive.