Many London homes are left vacant for large periods of the year, as nearly a quarter of a million people have second residences in the city, which they only use on a part-time basis.
A large number of these second homes are bought by overseas investors, often from the Middle East and Russia, who view prime central London as a secure long-term investment. Mayfair and Belgravia in particular, are popular with these buyers and many have no intention of living in them at all.
Families with both a London home and a second holiday home make up the largest share of this figure but as many as 63,000 properties are accounted for by homeowners with two addresses in the city, splitting their time between homes in two different boroughs.
Many of these are simply left sitting vacant for large periods of the year.
However, home specialist company Vive Unique, provide homeowners the opportunity to earn extra income by renting out these second properties when they are not in use.
Vive Unique take care of everything says Claire Whisker, Co-Founder and Director: “‘We take care of everything from the booking, to check-in and check-out, and everything in between, we prepare every home and return it to our homeowners, just as they left it. Bespoke insurance is also included as standard for our homeowners.”
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