Do you own a property that sitting vacant? Maybe the tenants moved out, maybe the house isn’t in livable condition, maybe you inherited the house and it’s been empty for years. Whatever the case, a vacant property can cause a lot of stress, and even open you up to a lot of risk.
Risks you say? Yep, here are some of the things you will want to plan ahead for:
1. Loss Of Income/Increase in Insurance Cost
Let’s say the tenants moved out and left the place a wreck. The longer the house sits empty, the more income you lose. And unfortunately the mortgage company still wants their payment every month, regardless of your situation. On Top of that, your insurance company will charge you more to insure a vacant house because it opens them up to more risk
2. Theft & Vandalism
Unfortunately some people like to make a bad situation worse. Empty houses are easy targets for local thieves. They will break in to steal things like copper plumbing, appliances, AC units, Furnaces, and any personal belonging/tools you may have left there.
If that isn’t bad enough, a vacant house can be a playground for mischievous teens, and kids. Kids are known to break windows, spray paint walls, punch holes in the drywall, and do anything and everything to have fun by causing destruction.
So What Can You Do To Prevent This?
- Buy a security system for the house.
- Monitor the house frequently.
- Install timed lighting to scare off night time guests.
- Keep curtains and blinds closed so no one can look in and see the house is empty.
3. Squatters
Squatters are always on the lookout for a free place to stay. This can be someone homeless, or someone who takes advantage of these situations for a living, jumping from vacant house to vacant house. Squatters will move their belongings in, use the water, electric, and any other amenity they can get their hands on. All while you pay the bills unknowingly.
You have to act fast with squatters because after a certain timeframe, they earn rights. This means you can’t just call the police to remove them. After a certain point, they become “legal” occupants, and can only be removed through the court system.
4. Fires
Vacant properties have no one inside to monitor potential hazards. Some hazards include rats chewing electrical wires, faulty appliances, auto-combustion of household cleaners/construction material, etc.
Arson is also a possibility. Kids and even some pyro-obsessed adults have been known to be addicted to fire. Not to mention someone unintentionally lighting a fire by throwing a burning cigarette.
5. Water Damage & Mold
Water damage can occur from faulty plumbing, leaky roofs, flash floods, and even open windows.
If water gets inside the house, your home could also become a breeding ground for mold. Mold is big deal, which can cause your home to be uninhabitable.
One tip is to turn your water main off, and make sure all water is drained from the lines.
What You Should Do
If you are dealing with a vacant property, make sure get the problem taken care of right away. Don’t open yourself up to even more problems and damage by letting it sit empty.
If you are dealing with a vacant home and are stressed about what to do, give us a call at 859-712-1020. We can help walk you through some possible solutions to what you are dealing with.
Tired of The Headache?
Stop worrying, and let us take care of the problem for you. We will buy your vacant property for cash, and not ask you to fix a single thing.
Give us a call today at 859-712-1020 and allow yourself to move on from the problem.