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Business rates are a substantial burden on a business, restricting investment and impacting on profitability. Vacant properties will not be expected to pay business rates for a period of three months after they become empty, although this can vary depending on property type, size and location. After this period, the ratepayer can become liable to pay these rates again, even if the property remains unoccupied.
Effective management of your business rates can generate significant savings. Therefore, careful planning is crucial, particularly where the property is to remain vacant for a longer period.
Working in partnership with our national partner, Vacant Space Management (VSM) Ltd, VPS takes complete ownership of the process. We provide a specialist service that makes alleviating the rates on vacant commercial property, easy. We deploy bespoke strategies to both mitigate business rates and where possible seek to create income for landlords.
This socially acceptable and commercially effective method of securing vacant commercial property provides almost 100% cost saving of using traditional security methods. Moreover, having your property in use and occupied while you are focusing on its future sale, development or re-let means risks such as arson, squatting, metal theft, vandalism are significantly reduced. Our guardians are all working professionals, fully vetted, fully referenced and only placed in your property after a rigorous selection
It is an effective way to mitigate business rates where minimum use and intrusion of a commercial property is necessary. We use a carefully selected set of companies that will make non-invasive use of the property, allowing you to continue marketing effectively. It could be schemes such as short-term storage of low value goods or display and sale of imported art works.
Holding a programme of charity exhibitions in a vacant commercial property can deliver empty property rate savings in excess of 95% per year.
This involves the letting of the property to a company with charitable status. A registered charity occupying empty commercial property is entitled to 80%-100% business rate relief. In addition, landlords can benefit from lower insurance and security costs.