18/10/2023
Insights
What is a vacant property and why does it need security?
The combination of a tough retail environment, rising interest rates and the popularity of remote and hybrid working is contributing to an increase in vacant commercial properties in the UK.
At the last count, there were over 170,000 empty commercial properties in the UK, with office vacancy rates in most cities currently on the rise. Left unsecured, empty commercial properties can become an easy target for criminals and anti-social behaviour, potentially leaving you with an expensive repair bill that can sometimes exceed the value of the building itself.
What is a vacant property?
While dependant on the local authority and insurer, a vacant property can typically be defined as one that is unoccupied, not being used for its intended purpose, and all the assets and furnishings have been removed, typically for a period of more than 30 days.
Both commercial and residential buildings can become vacant due to a number of reasons, including:
- When in-between property sales and leases
- During extended refurbishment and renovation
- New builds awaiting purchases
- Generally unused, abandoned and derelict buildings
Why is security important for vacant properties?
Vacant buildings are more likely to be affected by numerous risks, including:
- Vandalism
- Arson
- Anti-social behaviour
- Burglary and theft
- Squatting
- Trespass
- Environmental damage
- Fly tipping
- Metal theft
These increased risks can have significant consequences for property owners, such as strained relationships with neighbours and damage to their reputation as landlords. Local councils and emergency services may also require additional security measures if the property becomes a nuisance. Failure to comply can result in enforcement actions or fines.
Legal & insurance implications for vacant properties
Due to the increased risks, vacant properties may face legal and insurance challenges, such as changes in coverage that could limit claims. Many insurers impose restrictions on vacant properties, often requiring specific security measures to maintain coverage.
Failing to implement these measures can lead to increased premiums or denial of claims in case of damage or theft. It's crucial for property owners to understand their obligations and consider additional insurance options tailored for vacant properties to mitigate risks.
Who’s responsible for insuring commercial properties?
Under the terms of most commercial leases, landlords are responsible for insuring the building itself while the tenants insure the contents. As a tenant, you should inform the landlord in advance that you intend to leave a commercial building empty as they may have to make amendments to their cover.
Most commercial buildings insurance provides some degree of vacant cover, typically up to 30 days, but the landlord may need to take out a specific policy if the property is empty for longer. This type of policy may also come with additional restrictions and security requirements.
How can I protect my vacant property?
Many landlords now rely on remotely monitored security systems, which can be deployed in place of or alongside other security measures, to provide peace of mind. It is a simple and cost-effective solution that allows you to continuously monitor commercial premises and respond to threats immediately.
What is RemoteZone?
RemoteZone is an advanced security solution for vacant and vulnerable properties. Utilising wireless, self-powered technology, it continuously monitors internal and external areas as well as protecting against, fire, flood and movement of specific items.
Specifically designed to protect empty and void properties, the security system is supported by the UK-based NSI Gold alarm receiving centre, providing immediate alerts and response capabilities.
Eddisons' flexible security solution for commercial properties
RemoteZone is installed within 48 hours and is completely wireless and self-powered, offering a simple yet highly effective security solution. At Eddisons, our ISO 9001:2015 and ISO 14001:2015 certifications reflect our commitment to both quality and sustainability. These standards demonstrate our dedication to continuous improvement and environmentally conscious operations, ensuring that solutions like RemoteZone meet the highest standards of reliability and efficiency.
To learn more about how RemoteZone works, click here to read our article, or to discuss your requirements, call 03300 411 744.
Get in touch with the Eddisons team
Please contact us for more details and information