Guide to YouSpotProperty
Did you know you can earn Amazon vouchers for spotting empty properties on YouSpotProperty? Want to know more? Read on!
What is YouSpotProperty?
YouSpotProperty is the name of a company who turns empty homes, forgotten properties and derelict buildings into liveable ones, then sells them for profit.
They use a crowdsourcing technique, e.g., you, to find those properties and reward you for it.
The company is founded in 2014 by Ben Radstone & Nick Kalms, real estate experts who flip houses for money. You can join in and help them and make good money on the side as well.
What Rewards Can You Earn with YouSpotProperty?
The main reward for reporting a property is a £20 voucher from M&S or Amazon.
Then, if the deal goes through and they buy it you get a finder’s fee of 1% of the sale price.
All you need to do is snap a photograph of the house or property and submit it to YouSpotProperty’s official website. You may need to wait a while to get the 1% commission but the £20 voucher usually comes in once the photo is verified.
In Which Areas in the UK are YouSpotProperty Looking for Empty Properties?
There’s actually no restriction on UK areas you can look empty properties for. However, YouSpotProperty won’t be rewarding properties in Northern Ireland, Wales or Scotland as they’re primarily interested in England only.
Which Homes Don’t Qualify for Rewards?
YouSpotProperty has several details, notably requirements that need to be met in order for you to be eligible for the rewards.
A few examples include properties that are ‘for rent’ or ‘for sale’, and empty homes that do not have residents. If there’s someone living there the building has to be in a derelict state. Furthermore, if the house sits on a sub-£100,000 house price average area then you may not get compensated.
What’s the Biggest Reward Someone Has Earned From YouSpotProperty?
The current record for biggest cash reward on YouSpotProperty went to Paul Wood when he snapped a photo of a West Hampstead house. The sale of the property was recorded at £1 million, and Paul earned £10,000 as a finder’s fee.
London houses tend to have greater value but it’s not unusual to earn thousands of pounds in the process. It’s also worthy to note that £10,000 is the maximum cashout YouSpotProperty is giving but since properties are always rising the chances of hitting the ceiling is pretty high.
What Does YouSpotProperty Need People to Find Empty Homes?
Statistics say that there are 800,000-plus abandoned homes in the UK.
YouSpotProperty works to track the property owner to stop vandalism, squatters and to prevent driving down the cost of homes in the area.
The company then offers to buy it then renovate the building to make it inhabitable again.
YouSpotProperty is a nice addition to your money-making portfolio. It requires very little- you just need to be mindful and take a photo of an empty house but the rewards can be substantial. Do this the next time you’re walking your dog, jogging or enjoying the fresh air and you just might get lucky.