How to Protect Your Vacant Property

If you are a landlord or real estate investor whose rental property is going to be sitting empty in-between tenants, it’s important that you take the necessary steps to protect your investment.

First, you must inform your insurance company, especially if the rental is going to be empty for 30 or more days.  Your current policy might only cover the home for up to a month without renters. In some cases, your provider might offer an endorsement, or change to the policy, that adds coverage in the event something happens to the property while no one is living there.

Secondly, an empty rental could also be subject to vandalism, invasion, or even theft.  In order to minimalize the risks of these unfortunate events, visit the property regularly to inspect for any signs illegal trespassing. If you have a trusted neighbor, ask them to keep an eye on things to make sure nothing suspicious is occurring. Keep blinds on the windows and install timed lights inside so the property doesn’t always appear to be empty every evening.

Lastly, be aware of the elements. A home without habitants could be at-risk for issues that could go undetected and cause major problem, such as a fire, flood, or weather damage. Make sure you adjust the thermostat accordingly to prevent pipes from freezing in the winter or mold from growing in hot, moist climates. 

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