Property Care

Vacant property management is the ongoing oversight and maintenance of a property that is unoccupied, whether temporarily or for an extended period. It’s a crucial service that helps property owners protect their investment, prevent damage, maintain its value, and ensure compliance with local regulations.

Here’s a breakdown of key aspects of vacant property management:

Why is Vacant Property Management Important?

• Prevent Damage: Vacant properties are more vulnerable to vandalism, theft, water damage (from leaks or burst pipes), mold growth, and pest infestations.
• Maintain Property Value: Neglect leads to deterioration, reducing the property’s market value. Regular maintenance helps preserve its condition.
• Security: Vacant properties can attract squatters, trespassers, and criminal activity.
• Insurance Compliance: Insurance companies often have specific requirements for vacant properties to maintain coverage. Failure to meet these requirements can lead to denial of claims.
• Code Compliance: Local governments often have regulations regarding property maintenance, regardless of occupancy. Violations can result in fines and legal issues.
• Faster Sale or Rental: A well-maintained property is more appealing to potential buyers or renters.
• Peace of Mind: Knowing your property is being cared for provides peace of mind, especially if you live far away or are unable to manage it yourself.

Key Services Included in Vacant Property Management:

• Regular Inspections: Frequent visual checks of the interior and exterior to identify potential problems. This includes:
  • Checking for leaks, water damage, and mold.
  • Looking for signs of vandalism or break-ins.
  • Ensuring windows and doors are secure.
  • Monitoring for pest infestations.
  • Verifying the functionality of essential systems (HVAC, plumbing, electrical).
• Security Measures:
  • Installing or maintaining security systems (alarms, cameras).
  • Changing locks after previous tenants or occupants leave.
  • Posting “No Trespassing” signs.
  • Securing windows and doors with boarding or reinforced materials.
  • Arranging for regular patrols by a security company (optional).
• Maintenance and Repairs:
  • Lawn care (mowing, trimming, weeding).
  • Snow removal (if applicable).
  • Pool maintenance (if applicable).
  • Interior cleaning (dusting, vacuuming, sanitizing).
  • Addressing minor repairs promptly (leaky faucets, broken windows).
  • Preventative maintenance (e.g., HVAC servicing, gutter cleaning).
• Utilities Management:
  • Ensuring utilities (water, electricity, gas) are turned on or off as needed.
  • Monitoring utility usage to detect leaks or unusual activity.
  • Paying utility bills (optional, if authorized by the owner).
• Mail and Package Collection:
  • Collecting mail and packages to prevent mail theft and overflowing mailboxes.
  • Forwarding mail to the owner or designated address.
• Reporting and Communication:
  • Providing regular reports to the property owner on the property’s condition and any issues identified.
  • Promptly communicating any emergencies or urgent repairs needed.
• Winterization (if applicable):
  • Draining pipes to prevent freezing and bursting.
  • Adding antifreeze to toilets and sinks.
  • Insulating pipes and windows.
• Landscaping:
  • Maintaining the property’s curb appeal to deter vandals and maintain property value.
• Trash Removal:
  • Ensuring trash and debris are removed from the property.

Who Needs Vacant Property Management?

• Homeowners relocating for work or personal reasons: If you’re moving temporarily or permanently and leaving your house unoccupied.
• Landlords between tenants: During the period when a rental property is vacant.
• Estate executors: When dealing with an inherited property that is vacant.
• Owners of vacation homes: That are not used year-round.
• Real estate investors: Who own properties awaiting renovation or sale.
• Snowbirds: Who leave for warmer climates during the winter.
• Military Personnel: Who are deployed for extended periods.

Choosing a Vacant Property Management Company:

• Experience and Reputation: Look for a company with a proven track record of managing vacant properties. Check online reviews and ask for references.
• Services Offered: Ensure the company offers the specific services you need, based on the property’s location, size, and condition.
• Insurance and Licensing: Verify that the company is properly licensed and insured.
• Communication: Choose a company that is responsive, communicative, and provides regular updates.
• Pricing: Compare pricing from different companies and understand what is included in the fees. Be wary of excessively low prices, as they may indicate inadequate service.
• Local Knowledge: A company familiar with the local area and regulations is beneficial.
• Technology: Look for companies that use technology for reporting and communication.

Cost of Vacant Property Management:

The cost of vacant property management varies depending on several factors, including:

• Location: Cost of living in the area.
• Property Size and Type: Larger properties require more maintenance.
• Services Included: The more services you require, the higher the cost.
• Frequency of Inspections: More frequent inspections usually mean higher costs.
• Specific Needs: Any unique needs or challenges of the property.

Typically, vacant property management fees are charged monthly or as a percentage of the potential rental income. You may also encounter one-time setup fees.

Alternatives to Hiring a Property Management Company:

• Ask a Friend or Family Member: If you trust a friend or family member, they can check on the property regularly and perform basic maintenance. However, ensure they are reliable and capable of handling any issues that arise.
• Hire a Handyman/Contractor: You can hire a local handyman or contractor to perform specific tasks, such as lawn care, snow removal, and minor repairs.
• DIY: If you live nearby and have the time and skills, you can manage the property yourself. However, this requires a significant commitment and may not be feasible for everyone.

In conclusion, vacant property management is an investment that can save you money and headaches in the long run. By protecting your property from damage, maintaining its value, and ensuring compliance with regulations, you can preserve your investment and peace of mind.