We understand how hard it can be to find reliable tenants. However, the longer your property sits empty, the more likely a theft, water damage, or fire will occur. Therefore, vacant properties pose a huge problem for homeowners.
In this article, we’ll discuss the various risks of leaving a property unattended, as well as several proactive safety measures you can take. Let’s get started.
Leaving your property empty for too long can lead to the following risks:
A fire is becoming an increasing hazard among vacant properties. There are different factors such as faulty wiring, the heating system, kitchen appliances, and more that can cause a fire due to improper maintenance. Also, empty homes can be a target for arsonists. Many of these fires can burn properties to the ground in a matter of minutes.
Property owners need to install smoke alarms and keep several fire extinguishers on the property at all times.
There’s no one to take care of the property daily if it’s empty. A tenant can quickly identify a possible leak or water damage and they can inform the property owner and get the problem fixed immediately. However, no one can be on the lookout for these problems if the home is empty.
Therefore, experts suggest owners to shut off their water connections and make sure the pipes are empty before exiting the property. In addition, the risk of a water leak increases during the wintertime since the water freezes and expands in the pipes. It’s best to keep the heat at 68 or above in the winter to avoid this problem.
It also wouldn’t be a bad idea to have a dehumidifier running in the summertime to prevent mold or mildew from forming.
Squatters are people who illegally occupy vacant spaces for free. These settlers will not only use your home without your consent but can also invite unwanted pests inside. For instance, the squatters may leave garbage or food bits around which draw pests into the home. These pests can cause extensive damage to the interior of your property.
The best solution to this problem is to install a security system so that if someone were to enter the home the alarm would go off and the police would be notified.
An empty property is a perfect target for thieves in your area. Even if you keep the outside well-maintained thieves can pick up on the fact no one is living there if there are no lights on or furniture inside. Once a thief gets in they’ll have complete access to your home and can steal appliances and copper pipes within a matter of a couple hours. This is where home security systems come into play. Without one, robbers could invade your property at any time without anyone knowing.
Therefore, to avoid this issue you’ll want to get the property occupied as quickly as possible. In the meantime, we suggest motion sensor lights outside, adding blinds to your windows, and putting a light on a timer inside the home.
Investing in a property is an excellent way to grow your profits over time as home values continue to rise. However, keeping your property empty for some time can create many issues.
Vacant property owners deal with many risks such as water leaks, fires, squatters, pests, thefts, and so on. Thus, it’s best to take proactive measures when it comes to securing your vacant property. The last thing you want is a costly repair bill on your hands!