Christmas can strain finances, prompting many to seek additional income post-holiday. Retired police officer Roy Foulkes has pocketed over £5,500 in cash and vouchers by flagging vacant and dilapidated properties. Discovering YouSpotProperty in 2024, the 67-year-old from West Hallam, Derbyshire, has been leveraging the platform to bolster his earnings. YouSpotProperty compensates individuals for pinpointing and reporting long-term vacant houses.
Initially, the company offers a £20 Amazon or M&S voucher for correctly identifying an empty property. If YouSpotProperty proceeds to purchase, revamp, and sell the property, it grants 1% of the purchase price to the informer, up to £10,000. Roy has amassed £4,750 through 1% incentives from two properties salvaged by YouSpotProperty, in addition to 39 £20 vouchers totaling £780.
Receiving £2,350 for the first house and £1,620 for the subsequent property, Roy has allocated the funds towards household items, vacations, and activities with his grandchildren. The first property eligible for the 1% fee was spotted during a stroll in his former patrol area, where he had previously reported the abandoned dwelling to no avail.
Encountering the second property near a former council house in Derby, Roy captured photos and verified its condition using Google Street View. Promptly reported, the property fetched him a £1,620 reward. Roy expressed his contentment with the additional earnings, which have facilitated various family adventures and household purchases.
In addition to the 1% rewards, Roy has utilized the vouchers for home essentials, emphasizing the sense of contributing to society while earning a modest income. With an estimated £465 billion worth of vacant properties in England and Wales, YouSpotProperty distributes around 110 £20 M&S or Amazon vouchers monthly to property reporters, with 350 to 450 properties reported weekly.
On average, seven 1% reward fees are disbursed monthly for acquired properties rehabilitated by the company. Over the past year, YouSpotProperty has acquired derelict properties ranging from £17,000 to £3 million. Co-founder Benjamin Radstone highlighted the initiative’s success in repurposing empty homes and rewarding the public for their involvement.