The hidden costs of an empty property in Wandsworth and how to avoid them

An empty property might feel like breathing space, but a vacant home in Wandsworth can cost you money every month.

The costs that quietly add up

Council tax — Wandsworth Council charges Council Tax on empty properties. If a home is unoccupied and unfurnished for more than 1 year, an empty homes premium can apply: 100% extra after 1 year, 200% after 5 years and 300% after 10 years.

Building insurance — Standard home insurance may be restricted or invalid once a property has been empty for 30 to 60 days. Specialist cover is often needed.

Maintenance drift — A slow leak, damp patch or blocked drain can become expensive when nobody is checking the property. Regular property inspections help catch issues early.

Security risks — Empty homes are more exposed to burglary, vandalism and unauthorised occupation. Early action is usually cheaper than dealing with damage later.

Lost rental income — ONS data shows average rent for a 2-bedroom property in Wandsworth was £2,422 per month in March 2026. Over 6 months, that is around £14,532 in missed rent.

What you can do about it

Start with an accurate free valuation so you know what your property could achieve now.

If you want to stay involved, a letting only service can help you find a tenant and set up the tenancy. If you would rather step back, a full management service can cover tenant finding, repairs, inspections and management. You can also check the additional fees page for a clear breakdown.

Do not forget compliance

Before a tenancy starts, make sure your gas safety, EICR, EPC and other legal requirements are in order. The guide to letting and landlords page explain the key steps.

If you are unsure whether to let now or wait, use the rental yield calculator and compare your home with current properties to let.

Book your free, no-obligation valuation today, or call 020 8870 5800.