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Mauser & Tobin Blog

Reasons Not To Leave Your Rental Property Vacant

6/18/2018

4 Comments

 
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​Your rental property might have been vacant for some periods of time in the course  of its life. But you should be wary about how long is too long. You must always aim to have your property rented most of the time. Or else, your property becomes vulnerable to risks that you might not be ready to face.
​Threats
If you are not mindful of these risks to your rental property, you’re in danger of losing it. It is your responsibility to find and determine the threats to your property, so that you will be able to make preemptive measures to avoid it.
  1. Vandalism and Theft
    Break-Ins and vandalism are common to properties that are left vacant for too long. It will cost you a great deal to fix and replace everything that is broken and damaged.

    To your eyes, you might see an empty property. But to others who have other intentions, your property is a treasure trove. Burglars are highly interested with anything useful, like: Air conditioning units, light fixtures, copper wirings, and many others.

  2. Informal Settlers
    A vacant property is very tempting to squatters. The danger in here for you as a landlord is, it is really hard to make them leave. If they don’t leave on their own, the only choice you have is to file a lawsuit. You cannot force them out as they may have a landlord-tenant rights as holdover tenants.

  3. Fire
    Neglected properties are in risk of fire or arson. Under maintained heating system or plugged appliances can cause fires. Properties with no electricity might also be at risk from unwanted visitors setting fires unintentionally or intentionally.

  4. Water Damage
    Leaks, broken pipes or flooding may cause a lot of damage to your property if not given urgent attention. This problems can cause havoc to your property that would cost so much to repair.

Solutions
There are a number of things which you can do to ensure that your vacant property remains in good condition for the next tenant.
  1. Security System
    If you think that you are incapable or your schedule just won’t allow you to visit the property, you might want to install a security system. There are numerous options for you, like: alarms, camera, security lights and others.

    This way, you can watch and secure your property without needing your physical presence in it. Your system can warn you or fend off any break-ins into your property.

  2. Turn Off Heating And Water
    This will help prevent fires and water damages from occurring. Schedule a visit to your property once in a while. This will help you spot any problems before it causes damage.

Vacancy on rental properties can sometimes be unavoidable. But there are a lot of ways you can preserve and maintain the good condition of your property. Protect yourself from property damage or loss, get a Landlord Insurance. Look for sources that are trustworthy and reliable. At Mauser & Tobin Co., Inc.​, we put our clients first by offering them policies that they can afford. Learn more about our products and services by calling our agency at (516) 747-0171. You can also request for a free quote by CLICKING HERE.
4 Comments
Gillian Babcock link
3/20/2019 04:16:30 pm

My brother is looking for an apartment for rent near his office because he's planning to move closer. It was explained here that it will be best to rent a property that has a good security system and with a water heater. Moreover, it's recommended to consult experts when looking at rental properties.

Reply
Sterling De Vere link
5/26/2019 10:43:43 pm

Gillian, Can you please share the location, your brother is looking for an apartment, i will see, if we can help him.

Reply
Camille Devaux link
5/13/2019 03:27:00 pm

It makes so much sense that you would want to turn off the heating and the water before you leave. Damage is a big deal that could really hurt your home and wallet. My uncle wants to get a rental property for his vacation and might like knowing this.

Reply
Thomas Jameson link
7/29/2019 07:25:39 am

It's good to know that leaving your rental property vacant can result in vandalism and theft. My wife and I would like to buy a beach house, and we want to make sure that all of our belongs that we leave there are safe. We'll be sure to look further into our options for getting our property managed to avoid any vandalism.

Reply



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