Risks Involved in Keeping Your Rental Property Vacant for too Long

Risks Involved in Keeping Your Rental Property Vacant for too Long

One thing that all of us would agree on is that rental properties can’t be occupied all the time. There are going to be times that your property stays vacant for a long time. You would be thinking of maintaining your property and leaving it vacant until a tenant arrives. But this idea can go wrong and end up with having consequences. It’s never a good idea; what better is to keep your property occupied and having the rent flowing in. Here we have enlisted the risks which are involved when rental properties in Edmonton are left vacant for a long period.

Vandalism

When the rental properties are left vacant, they are prone to vandalism. People make such vacant places their target as they are less likely to get caught. You can lock up the property and put someone there to keep an eye on the property. Graffiti on the property is also a problem with vandalism, but vandalism can cause heavier damage.

Theft

If you think that who would conduct a theft on a vacant property, then thinking that is wrong. There are a lot of things that thieves can steal even from an unoccupied house. There will be many appliances installed in your property like water heaters, air conditioning units, light fixtures, copper wirings and furniture that these criminals can steal. You can lock up the property and also install a security system that will protect the property from burglars.

Squatters

Vacant rental properties are an attractive sight for squatters. They will easily figure out if the property is vacant or not. And they will start living at your property without you knowing. You can remove the squatters from the sight by just asking them. Sometimes, they don’t leave and start residing once the landlord leaves. If the squatters are holdover tenants under landlord-tenants rights, then the court needs to be involved to remove them. So better would be to keep them off the property.

Fire Hazards

Vacant rental properties are also prone to fires or arson. You would need to keep a check with the heating system to check out with any issues. The heating system can cause a fire breakout if you have left it turned on. Also, a minor electrical issue can lead to a fire. 

Water Damage

The vacant property doesn’t get the kind of attention it needs. You will have to keep in check with the plumbing system of the house. Any leaks or bursts in the pipe can lead to a flood in the house. The flood will damage the property and cost heavily for the repairs.

The risks involved in leaving rental properties are listed above. You have to maintain your property even when it is vacant. Try not to keep your property vacant for a long time and find the best tenants. You contact us and use our services in Edmonton for your property.

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