Innkeepers complained of unlet rooms, and caterers of wasted supplies.
Many of the homes to be demolished are boarded-up and unlet, but the news provoked a strong backlash among the many tenants who remain.
Property agents are focusing on the remaining unlet space.
There was also good news, with only around 1 in 5 landlords reporting any unlet periods in the past six months.
‘He worked out a rental value for himself, disregarding the Unit 3 rent but deducing a rent level from the existence of unlet premises and the alleged absence of demand’.
In the boom and bust of the 1980s and early 1990s, property developers began lending spaces to artist-run initiatives, rather than let them lie fallow: this was a way of enlivening the shells of unlet buildings.
Big efforts have been made to keep national names in town and ensure the eyesore of unlet units is kept to a minimum.
A rent pool system has been put in place, whereby income is divided between owners to reduce the risk to an investor if their particular apartment remains completely or partially unlet.
In these circumstances, the fund will not make payment to you for the development, and the property will remain unlet, with no income being received.
The number of unlet investment properties was on the rise.
Under the terms of the acquisition, the developer has agreed to take a 20-year lease on any unlet space at #30 per sq ft.