Vacant Commercial Property Insurance

Can guardians help reduce your vacant property insurance

If you have a vacant property, it can potentially start costing you a great deal in vacant property insurance. With a shortage of usable space in the UK, every ounce of commercial and residential real estate has value, and if it's left unoccupied, it's a great waste - one that might be costing you a lot of money.

Allowing a guardian, or guardians, to occupy your property has much to offer, and may even contribute to saving you money on your vacant property insurance premiums. What are the benefits for you?

The benefits of occupation

Leaving a property you own unoccupied is to truly waste its potential, but there are some more tangible benefits that occupancy by a guardian can offer you as a landlord.

1. Security

Vacant properties face a number of risks. Whether it’s graffiti, vandalism, or the ever-present risk of squatters, your property could face serious damage. The risk of this, naturally, becomes greatly reduced when the building is occupied. If it’s a large building, the higher the occupancy will mean the less the risk. Combined with your standard security measures, your building will be better protected overall.

'Security by occupation trough guardians is a win-win situation'

2. Safety

Another risk of unoccupied buildings is the comparative lack of safety. When a building is unoccupied, there is nobody to notice when structural issues or problems with the utilities arise. As the problems get worse, they become ultimately more time consuming and expensive to fix. When your property is occupied, however, you can be notified of problems while they’re still small, making them much easier to deal with.

3. Desirability

An occupied property is always going to be more desirable on the market than an unoccupied one. When the time comes for you to sell, it’ll be much easier to garner interest in a property that has had recent occupiers than one which has stood empty for a long time. That means when you decide to sell the property on, the process will be much quicker and stress-free – and preparing the property for sale will be cheaper.

How does it work?

The other benefits

Those are the direct benefits to you, and the reason why your vacant property insurance premiums should be reduced – because ultimately an occupied property is much safer than an unoccupied one.

There are other wider benefits to consider though, such as the boost to the local economy. One of the greatest challenges to small businesses is finding somewhere to operate they can afford – you will be contributing toward allowing them to do just that, while also enjoying rental income from the property.

We cater to individuals who are looking for both commercial and residential space – affordable housing is a big issue in the UK, and if you allow your property to be occupied you will be making a considerable positive contribution. The peace of mind you will get from that eclipses any financial motive.

Contact us today

For further information, or to start the process of allowing your vacant property to be occupied, contact the team at Young Startup today.