Frequently asked questions

What are the costs involved?

If you own or lease an empty commercial or industrial property which qualifies for a 6 or 9 month rates void period, our fee will equate to 20% rates payable of the property in question.

What is the length of tenancy used?

Our standard and most popular agreement that we use is a 43 day short term tenancy agreement for industrial and commercial properties.

All tenants will accept a termination of their tenancy agreement with just 7 days’ notice.

How long does a property have to be occupied before it qualifies for a three or six month exemption from Empty Property Rates period?

Fundamentally the law provides that where an industrial property is newly occupied for a period of at least 43 days or more, should the property after that period again become vacant, it will automatically qualify for a brand new 6 months period, (commercial properties such as offices and shops qualify for a new 3 months period) and will be totally exempt from having to pay Unoccupied Property Business Rate charges.

Is the service offered by Latespace.com legal?

Yes, the service offered by LateSpace.com is completely legal and totally legitimate.

Can LateSpace.com always introduce a tenant?

LateSpace.com can always guarantee to introduce tenants willing to occupy empty commercial property either on a rent free or discounted rent basis. The tenant will then become liable for the whole of the non-domestic business rates.

Is there a lot of paperwork?

No. LateSpace.com take care in ensuring paperwork is kept to a minimum. All you will receive is a concise information pack which will inform you of all you need to know regarding the service, legal obligations and conditions.

What if I find a suitable new tenant?

Simply contact us and we can arrange to legally vacate the property with just 7 days' notice or a time to suit you.

If I find a new tenant will I receive a refund?

If you happen to find a long term tenant or a buyer for the property and request our tentant to vacate, the unexpired portion of our fee will be fully allowable against a similar arrangement on another property.

Do the tenants introduced by LateSpace.com pay rent?

No. Latespace.com can introduce tenants willing to occupy empty commercial and industrial property on a rent free basis for a 43 day period after which the property will then qualify for 3 or 6 months exemption of empty property rates.

What type of tenant does LateSpace.com introduce?

Latespace.com guarantees to provide you with a non-intrusive, flexible tenant.

LateSpace.com have a strategic-partnership with a National Multi-Media Marketing Company requiring commercial properties throughout the UK or the tenant may be a small business, charity, sports club or not-for-profit enterprise who pay substantially less business rates than most businesses. They will accept a termination of their lease with just 7 days' notice enabling you to continue marketing the premises.

Will you take responsibility for the property whilst you are renting it?

Our lease contains in detail what we will be held responsible for. But in short, we will only be expected to pay the rates for the length of time specified in the lease. We will not be held responsible for any other claims/costs etc. regarding the property we are renting.

Is the service you offer repeatable?

Yes, the service is repeatable. We can save you money on your empty property business rates for as long as you are liable to pay them.

Why do you require payment in advance?

Due to the nature of our service, we request payment at the inception of the arrangement. We have to pay the business rates for the 43 day period of our client's tenancy directly to the local authority and our fee is required to initiate the whole process.

Other than paying the service fee, what else do I need to do?

We will need some basic information to process your request. Please see the enquiries page of this website for more details. Once you have submitted the relevant information we will send you an information pack that includes our lease document and payment details. Once you have made payment for our fee and the rates due for the 43 day tenancy period, signed and returned one of the two copies of the lease document, there is nothing else you will be required to do.

Is the service confidential?

Yes. Your details are secure and will not be passed on to any third party with the exception of the Rating Authority who will need relevant information in order for us to process your request.

Is the service guaranteed?

Yes. Should the local authority for whatever reason fail to grant your empty rates void period, the full amount of the commission that you paid us in respect of this period will be fully credited towards a similar arrangment with any other property.

What information will you need regarding the property in question?

The enquiries page of this website contains all the fields of information that we will need regarding your property. If you wish to ask us more about this topic, Please contact us via our contact page.

Where do I find the information needed to submit an enquiry for my property?

You will find most of the information you need on your empty property's most recent rates bill. This includes your property's rateable value, property reference number, local billing authority and multiplier.

Do you require a copy of my rates bill?

You are perfectly welcome to just send us the salient figures.

How do I establish which rates void period I qualify for?

Typically, most commercial property excluding industrial qualifies for a 3 month rates void period and most industrial property qualifies for a 6 month rates void period.