Vacant Commercial Property Can Be Costly


Vacant Commercial Property Can Be Costly

There are times when, even in a good economy, a property can sit vacant. Maybe there are improvements that will be done and the contractor is waiting for approval from the city. Maybe the property was just purchased and will undergo a rehab before new tenants will move in. The reason the building is empty is less important than what can happen while it sits vacant.

From infrastructure theft to graffiti to invaders, the issues that could occur deserve awareness and planning. We'd love to believe that nothing bad will happen. After all, if no one knows the building is empty, why would they do anything to it?

Let's look at it another way. Graffiti appears on all sorts of buildings, whether they are occupied or not. That can be a gateway to more vandalism, especially if it isn't dealt with in a timely manner. With the value of copper, pipes are often stolen from vacant buildings. That can be tremendously costly for the owner.

Moreover, once people discover the property is vacant they can start using it to live, party, or do drugs. Not only can this destroy the property from the inside, but in some states it can be difficult to remove those folks.

There are things that can be done to minimize the risks of an empty commercial property. The first is to ensure it is properly covered by insurance. Knowing you have coverage for any situation can ease concerns until the property is inhabited. In addition, you can make it look like there are tenants in the building. Clear debris, cover windows, do some minor landscaping, or set up a security system. Cameras can be great deterrents. People entering and leaving at random times can also help, as well as times lights inside.

Take some time to think about what makes a vacant property attractive to criminals. Then create an environment that will make it less attractive.