Caring for vacant properties

In its earliest days GMC’s business model concentrated on taking vacant, repossessed properties and making them safe, habitable and fit for purpose to resell in the shortest time possible. This makes us experts in understanding what vacant properties require both in terms of maintaining property values and complying with insurance requirements. In this blog we share our insider advice.

Understand insurance requirements
Whether you’re a facilities manager who specialises in vacant properties, or are suddenly faced with an unoccupied property it’s essential that you comply with the requirements set by your insurance. A landlord’s statutory obligations remain the same as when the building is in full use, so the property should be looked after with the same level of care.

Vacant properties have a number of areas where risks can increase, and the insurance will most likely have standards that help mitigate these risks. At GMC we’re able to organise the appropriate work needed to meet these insurance standards. This could be regular inspections to check the property remains secure, attending properties to drain down the water and heating system or to turn the heating on to a specified temperature to avoid burst pipes.

Know where the risks lie
Issues such as damp or mould that would be easily noticed in an occupied property can become costly problems if they go undetected. We always recommend precautionary measures are taken when it comes to property maintenance, particularly in older properties that are more susceptible to issues. Having an extensive network of professional trades throughout the UK allows GMC to arrange regular property inspection visits wherever your portfolio is located.

Prevention is better than cure 
In all areas of property maintenance our ethos is that prevention is better than cure, especially when it comes to unoccupied properties. For example, pest control should always be dealt with as soon as a problem is spotted. We all know this is a given for something like woodworm which often causes long-lasting structural damage, but it can easily be overlooked in cases like fleas or bedbugs if it is not known when the property will next have tenants. There is a temptation to put off dealing with the issue to limit costs. However, the longer a problem is left, the more it can spread, and soon becomes more time consuming and expensive to put right. Not ideal if you suddenly get an impromptu tenant or need to put a vacant property on the market at short notice.

Our knowledge of vacant property care is vast, as are the property maintenance services we offer. Across the UK we can provide boarding up, lock smiths, plumbers etc to cope with any sudden emergencies.

If you would like to know more about how GMC can help you care for your property portfolio please get in touch with one of the team on 01903 721020 or email info@genmaint.co.uk.