Why outsource empty rates mitigation to Accurates?
All agents are conscious that business rates on vacant commercial property are a particular burden to their clients and can have a significant negative effect on asset yields. In order to counteract this impact, empty rates mitigation is essential, but managing these negotiations across multiple assets and various local authorities and geographies can be time consuming and challenging.
Any mitigation process must also meet the tests of legislation and have regard to the property inspection and evidence requirements of billing authorities. This will invariably involve formal notifications of mitigation activity in a timely manner, arranging to meet local council inspectors on site, and in some cases the provision of further substantiating documentation together with a report to deal with any rating technical matters raised by revenues officers.
Consequently, a deep level of specialist rating technical and logistical knowledge, experience and resources is required.
Our Accurates service has national capability and specialist knowhow. We deliver this service to clients, in partnership with locally based commercial property agents, saving our clients millions to date. This has enabled our agent partners to save time and focus on their core business activity of managing their clients’ properties to their full potential, consistently optimising value and yield, and bringing properties back into occupancy faster.
What is involved and can marketing continue as normal?
The Accurates mitigation process involves the intermittent occupation of an otherwise vacant property. Our solution is discreet and has a minimal physical impact on the property. As a result, it is suitable for deployment in properties that have been recently refurbished or decorated, and it means marketing viewings can continue as normal whilst the mitigation process is in place.
What can I expect in terms of financial reporting?
Accurates can assist property agents with the verification of rates bills, checking to see that all periods of occupation and exemption are correctly reflected. Accurates can also assist with the preparation of reports in respect of rates mitigation savings (expected and achieved), and with the preparation of rates liabilities forecasts based on potential future rates mitigation activity.
Author:
Kelly Nash
Associate Director
