Come winter, come Christmas! It’s that time of year again when families come together to have fun and create memories.
However, as you make merry, you also want to protect your vacant assets. Whether you’re awaiting a sale or planning permission, completing renovations, or simply between tenants, it’s crucial to understand and mitigate the vacant property risks in winter.
With the current housing crisis, you may end up dealing with squatters and thieves. Add the cold winter weather, and your building’s plumbing and structural integrity are also under threat.
This article outlines the five major risks your vacant property faces this winter and offers practical, cost-effective solutions to protect your investment. Let’s dive right in!
Increased Security Threats
Winter’s longer nights make your vacant property an attractive target for thieves and individuals seeking shelter. The risks here include vandalism, property damage, and potential squatter occupation.
To mitigate the risks, you can consider vacant property protection. For instance:
- Install timer-controlled LED lighting to create an illusion of occupancy and deter intruders while keeping energy costs low.
- Invest in a monitored alarm system. Modern systems offer remote monitoring that alerts you or security services to breaches immediately.
- Arrange periodic security patrols. A visible security presence, even if intermittent, will decrease the risk of your property being targeted.
Weather-Related Damage
Winter weather can also wreak havoc on unoccupied buildings.
For starters, frozen pipes can burst and cause extensive water damage. Heavy snow and ice can accumulate on roofs, potentially leading to collapse. In addition, strong winds can damage unsecured structures, and debris can break windows.
The repairs for these would be very costly, so you can hire professional winterisation services for your plumbing system.
You can also board up an empty property and vulnerable openings to protect against wind damage, broken windows, and break ins.
Maintenance Challenges
If it’s not squatters, thieves, or weather damage, maintenance challenges pose another vacant property risk – especially over winter.
You don’t always have the time to pop up to inspect your building. However, without regular occupancy, small issues can quickly escalate into major problems.
Unchecked leaks can lead to water damage and mould growth, while pest infestations can spread rapidly in an empty building. Here are two things you can do:
- Schedule regular property inspections. Professional bi-weekly or monthly checks can catch issues early.
- Implement remote monitoring systems. Smart sensors will alert you to changes in temperature, humidity, or water presence.
Winter also brings additional health and safety concerns, particularly for construction sites or properties undergoing renovation. You get darker days and icy conditions that increase the risk of accidents.
You can identify areas prone to ice buildup, such as scaffolding, ladders, walkways, and work platforms, and prioritise fixing them first. You should also use proper signage and lighting in areas accessible to the public.
Insurance and Liability Concerns
All properties require specific insurance coverage, and premiums can increase due to the vacant property risks we discussed above. In addition, you may face liability issues if trespassers or pedestrians are injured on your property.
You can protect yourself financially by ensuring you have appropriate vacant property coverage. You can also install CCTV surveillance systems to deter trespassers and document incidents for insurance claims or legal defences.
Also, consider specialised vacant property insurance. These policies cover the unique risks of unoccupied buildings.
Negative Impact on Property Value
A vacant property can quickly lose value if not properly maintained. And, visible neglect can lead to a perception of abandonment and potentially attract vandalism. This will also negatively impact the surrounding community.
As winter approaches, you want to protect your property’s value and give your neighbours peace of mind as they plan their festivities. So, consider:
- Maintaining curb appeal with regular landscaping services. Well-maintained grounds signal that the property is cared for.
- Investing in minor renovations. Keeping the property updated and market-ready helps maintain its value.
- Temporary leasing or pop-up rentals. Short-term occupancy can offset costs and keep the property in use. You just need to vet your guests for an added layer of security.
City Guardians: A Cheaper Solution to Vacant Property Protection
While the solutions above can mitigate risks, they all come with associated costs and require ongoing management. And as a property owner, you have to balance asset protection and expense management.
At City Guardians, we offer an innovative solution. Property guardianship. Guardianship is a unique, cost-effective solution where we place carefully vetted guardians on your property and, thus, provide the following:
- 24/7 occupancy so you can save thousands compared to conventional security measures with our live-in guardians.
- Regular use of building systems to prevent weather-related damage.
- Maintenance savings: We handle all internal maintenance.
- Monthly inspections with free reports to keep you informed without site visits.
- You retain access rights with reasonable notice.
- A possibility to share guardian revenue.
Our service comes at zero cost to you as a property owner. We cover fit-out costs to ensure the property is safe and compliant, manage all aspects of the guardian’s occupancy, and can even offer revenue sharing in some cases.
We can protect your vacant property from winter risks without the financial burden of traditional security and maintenance measures. Our flexible solution allows for vacant possession within 32 days, which means your property is protected now – but available when you need it.
So, don’t let your vacant property become a financial drain this winter. Contact us to learn how our guardianship programme can provide both substantial savings and peace of mind so you can enjoy your winter holidays better.
