Earn Gift Vouchers for finding empty homes with YouSpotProperty
What Is YouSpotProperty?
YouSpotProperty is a company that buys derelict properties and refurbishes them before selling them on for a profit. Members of the public can submit details of properties near them that have been abandoned, and they will be rewarded for this. The company was founded in 2014 by Ben Radstone and Nick Kalms, who have both made careers out of buying dilapidated buildings and making them ready for sale again. Thousands of people have already received rewards for informing the company about properties that are in need of renovation.
What Rewards Can You Earn With YouSpotProperty?
If you are the first person to submit a photograph of a property, you will be rewarded with a £20 voucher with a choice between Amazon and M&S. If they go on to purchase the property you have alerted them to, they will reward you with 1% of the price they paid for the property. This money will still be paid even if it takes several months for the purchase to go through.
There is no guarantee that you will receive either of these rewards when you give details of a property, but the process is very quick and easy. Most people find that it is worth the small amount of effort it takes to submit details is worth it even though they are not certain they will get a reward.
If you do become eligible for a cash reward, then YouSpotProperty will also donate £500 to a local charity based in the area where the property is located.
In Which Areas Of The UK Do YouSpotProperty Look For Empty Properties?
Many of the properties which the company have purchased have been in the south of England. However, properties that are located throughout the rest of the country are also eligible for a reward. Currently, the company does not offer rewards for properties that have been spotted in Scotland, Wales or Northern Ireland. Homes should also be in residential areas of England.
Which Homes Don’t Qualify For Rewards?
There are some homes that will not qualify for rewards, and these are outlined in the terms and conditions of the site. Properties that are currently up for sale or rent will not qualify, and homes ideally need to be empty. If there is someone living in the property, then it needs to be in a derelict state if it is submitted. If the average house price in the area is less than £100,000 then submissions will not qualify for a reward.
What Is The Biggest Reward Someone Has Earned From YouSpotProperty?
The biggest reward to date that has been awarded by YouSpotProperty is £10,000. Paul Wood spotted an abandoned house in West Hampstead while he was stuck in traffic. The company eventually purchased the property for £1 million and Paul was entitled to 1% of the purchase price. Houses in London tend to sell for the most amount of money, but people all over the UK have earned rewards of thousands of pounds. £10,000 is the maximum reward that will be paid by the company, but with house prices continuing to rise, it may not be long before someone else is able to earn this much.
Why Does YouSpotProperty Need People To Find Empty Homes?
It is estimated that there are over 800,000 empty properties throughout the UK. YouSpotProperty believes that this number is far too high, especially when you consider the amount of people who are homeless, or living in unsuitable accommodation.
Abandoned houses also attract squatters and encourage vandalism. Rubbish is often left behind and this attracts vermin. When YouSpotProperty is notified of a derelict property they work hard to track down the owner. They then make an offer on the property and renovate it so that it can be inhabited again.
You may not be able to make a consistent income from YouSpotProperty but it is still very much something to bear in mind when you are out and about. If there are any abandoned or run-down properties near you, then you do not have a lot to lose by sending the details in.
The £20 voucher is a good incentive on its own, but there is also the chance of making a considerable sum of money if the company go on to buy the property you have alerted them to. There is also no limit to the amount of properties you can submit, so you may be able to earn more than one voucher.