5 Ways to Reduce the Risks of Owning a Vacant Property

If you own a vacant property, all the potential risks probably have you riddled with worry. From vandalism to fire damage, there’s a lot to be concerned about.

If you’ve lost sleep over it, it’s understandable. But not necessary, since there are plenty of ways to keep your property more secure.

Here are 5 ways to reduce the risks of owning a vacant property:

  1. Check & Maintain

Checking up on your property on a regular basis is a very good idea. That way, you can catch costly repairs that may otherwise go unnoticed and get worse.

Be thorough when checking the property. Make sure to look at the gutters, roof, attic, and basement.

And, of course, regularly maintaining the property can drastically decrease the likelihood of damage.

  1. Keep it Lit

Trespassers, vandals, and squatters prey on dark properties. So, it’s totally worth spending the money to keep your property fully lit at night.

  1. Add Furniture

The best way to avoid the risk of your insurance policy being canceled or non-renewed, which is often what happens when a property is vacant, is to keep enough furniture in the home. That way, it won’t meet the definition of being “vacant.” But if you’re using all your furniture, you can always rent.

  1. Install a Central Alarm

Installing a central alarm monitored for burglars and fire will reduce the chances of a major loss from fires, smoke damage, or vandalism. You can also add a temperature sensor to protect the pipes from freezing.

Having a central alarm is also a good way to get a discount on your homeowner insurance rates.

  1. Call a Cash Buyer

If you don’t want to deal with any risks whatsoever, you can call a cash buyer. They will buy the property from you for cash as-is.

And they can close as quick as seven days, making it a speedy and painless process.

Want more information about how selling your home to a professional home buyer works? Click here or fill out the form below.

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