If you own or manage property, you’ll know that the occasional period of downtime between tenants is almost unavoidable. However, in the wake of the COVID pandemic, many landlords have found themselves struggling to re-let their buildings - leaving them with long-term vacant properties to manage. In this situation, finding affordable, efficient, and effective methods of empty property management is crucial.
Whether you manage a commercial, residential, or industrial property – we think that good empty property management starts with the following two priorities:
Finding an effective and affordable way to maintain and secure your property while it is vacant.
Finding ways to minimise your outgoings and save money while the property is unable to generate profit.
Finding a good balance between these priorities is key to sustainably maintaining the value of your property and getting it back on the market as soon as possible. So, with that in mind, we’ve put together a list of our top tips for maintaining and protecting vacant property for landlords between tenants.
5 Tips for Landlords Between Tenants
1. Fix Small Problems Before They Become Big Problems
Before locking up and closing the doors to your property, it’s always a good idea to do a full maintenance sweep. As the property may be empty for a while, the aim is to find and fix any small problems before they become big ones. For example;
Clear gutters and ensure all pipes are properly lagged to avoid leaks.
Check the roof for any serious damage that needs addressing.
Repair any cracked or broken windows, doors, or entry points to avoid encouraging squatters onto your property.
Remove any internal or external rubbish which could cause a fire.
You can see our full 25-point maintenance checklist for vacant property here.
2. Get a Reliable Security System
Crimes such as fly-tipping and metal theft often cost thousands of pounds to clear up. So, even if your property will only be vacant for a short period of time, having a good security system could save you a lot of money in the long run.
Ideally, your security system should be effective 24-hours a day, 7-days a week and should work as a preventative deterrent. It is also beneficial to have an on-site presence to keep fly-tippers, vandals, and squatters away from your property.
From CCTV to manned guards, there are plenty of options available to choose from but it’s important you find the right system for your vacant property’s unique needs. You can see our full rundown of the best 24/7 vacant property security options here.
3. Make it Look Like Someone is Home
Empty properties are easy targets for criminals. So, one of the easiest ways to protect your vacant property is to make it look like someone is home.
Although it may seem counterintuitive to take down the boards and warning signs – data from the CSEW suggests that this could be a sensible decision.
Simple measures such as installing motion-sensor external floodlights will go a long way to keep opportunistic vandals and criminals away from your vacant property. We also recommend sealing letterboxes to avoid piles of post building up, and making sure to remove any rubbish as soon as it accumulates.
4. Check Your Insurance
While your property is between tenants, it’s always a good idea to check your insurance policy.
A standard policy will cover a vacant property for 1-2 months – however, if your property is left unoccupied for longer, you may have to upgrade to vacant property insurance.
Although vacant property insurance may cost you more in the short term, it is a price well worth paying to cover your back in case of any unexpected property damage (that could make it even harder to find your next tenant!). Plus, if you don’t let your insurer know that the property is empty, you might find that your whole policy becomes void.
5. Consider Using Property Guardians
If it looks like your property will be vacant for a month or more, property guardians could be a great temporary solution to keep your asset well maintained and protected in the interim period between tenants.
The relatively modern property guardian scheme was introduced in the early 2000s as a solution to the growing number of vacant properties across the UK. Professional guardians move on-site in their capacity as licensees (rather than tenants) to guard and maintain an empty space. The guardians benefit from lower than market rent in prime locations, while the landlords benefit from affordable property security and peace of mind.
With property guardians, the property is never actually vacant. Meaning that you don’t have to worry about hiring security guards or upgrading your insurance policy. Plus, the guardians will carry out regular maintenance inspections to ensure your property is always in good shape.
At Blue Door Property Guardians, we offer our service at zero cost to the landlord. While also personalising and tailoring our service to the individual needs of the property. With a 30-day hand back guarantee and flexible contracts, property guardians could be a great option for landlords between tenants looking for an affordable and effective solution to keep their asset safe.
If you’d like to find out more about how we can help you secure your property while you’re between tenants, then get in touch today.
