Top Tips for Protecting Unused Real Estate Assets

Owning real estate is generally considered a solid investment strategy. However, when a building sits empty, that asset can quickly transform into a liability. Whether your last tenants just moved out, the building is undergoing a lengthy renovation, or you are holding a property for future development, an unused structure is vulnerable.

Without the daily presence of occupants, small issues can escalate into disasters. A minor roof leak can turn into a mold infestation. A secure window can become an entry point for vandals or squatters. Beyond the physical risks, there are significant financial implications regarding insurance and liability.

Leaving a property unattended is not as simple as locking the front door and walking away. It requires a proactive strategy to preserve the property’s value and mitigate risk. Follow these top tips to protect your unused real estate assets and keep your property safe.

1. Prioritize Physical Security

Unauthorized access is the most immediate threat to a vacant property. Squatters, vandals, and thieves look for signs of neglect. Your first line of defense is making the property difficult to enter. You can use a variety of methods to secure vacant properties and foreclosures and keep unwanted guests off your property.

Reinforce Entry Points

Standard locks may not be enough for a property that will be empty for months. Consider installing deadbolts on all exterior doors. For sliding glass doors, use bracing bars to prevent them from being forced open.

Check every window to ensure the latches function correctly. In high-risk areas, some owners opt for boarding up windows, though this makes the vacancy obvious. A better alternative might be security film, which makes glass shatter-resistant.

Install Smart Monitoring Systems

Technology has made remote monitoring accessible and affordable. You don’t need a complex, hardwired system to keep an eye on your asset.

• Video Doorbells and Cameras: Wi-Fi-enabled cameras allow you to view live feeds from your phone. Motion detection alerts can notify you the moment someone steps onto the porch.
• Sensors: Place sensors on doors and windows. If a breach occurs, you—and potentially the police—will know immediately.
• Water Leak Detectors: Place these near water heaters, under sinks, and in basements. Water damage is a silent destroyer of vacant homes; a $30 sensor can save you tens of thousands of dollars.

2. Review Your Insurance Coverage

One of the biggest mistakes property owners make is assuming their standard insurance policy covers a vacant building. Most homeowner and landlord policies have a “vacancy clause.”

Typically, if no one is living in the property for more than 30 or 60 days (depending on the provider), the insurance company may void the policy, or coverage for specific perils like vandalism or glass breakage may be removed.

Switch to Vacant Property Insurance

Contact your insurance agent immediately upon knowing the property will be empty. You will likely need to purchase a specific vacant property insurance policy.

These policies are generally more expensive because insurers view empty buildings as higher risk. However, the premium cost is far lower than replacing a stolen copper plumbing system or repairing fire damage that remains uncovered.

3. Manage Utilities Strategically

Deciding what to do with utilities is a balancing act. You want to save money on monthly bills, but cutting everything off can degrade the building’s systems.

Heating and Cooling

In colder climates, never turn the heat off completely during winter. A frozen pipe that bursts can flood a house in hours. Keep the thermostat set to at least 55°F (13°C) to keep the pipes safe. In humid climates, leaving the air conditioning on a minimal setting can help prevent mold growth and warped wood floors caused by excess moisture.

Water and Gas

If the property does not require heating, turn the water off at the main shut-off valve. Open the faucets to drain the remaining water from the pipes. This eliminates the risk of catastrophic flooding. Gas supplies should generally be turned off unless they are powering a necessary heating system.

Electricity

Keep the electricity on. You will need it for your security system, outdoor lighting, and any necessary climate control.

4. Maintain Exterior Appearance

An abandoned-looking property attracts trouble. The “Broken Window Theory” suggests that visible signs of crime or neglect create an environment that encourages further crime. If you maintain the illusion that someone is living on the property—or at least closely watched—criminals are likely to move on to an easier target.

• Landscaping: Overgrown grass is a clear signal of vacancy. Hire a service to mow the lawn, trim hedges, and rake leaves regularly.
• Mail and Newspapers: An overflowing mailbox is a dead giveaway. Forward your mail to a different address or PO Box. If flyers or newspapers accumulate on the driveway, have someone pick them up.
• Lighting: Use timers or smart plugs for interior lights. Set them to turn on and off at logical times in different rooms to mimic human activity. Motion-sensor exterior lights are also highly effective at deterring trespassers.

5. Conduct Regular Inspections

Automation and cameras are helpful, but they cannot replace a physical walkthrough. You or a trusted property manager should visit the site regularly.

During these inspections, look for:

• Signs of forced entry or attempted break-ins.
• Pest infestations (droppings, nests, or damage to wood).
• Roof damage or clogged gutters.
• Damp spots on ceilings or walls.

Document these visits. If you do have to file an insurance claim later, proof of regular inspections can demonstrate that you were diligent in maintaining the asset.

6. Build a Relationship with Neighbors

If the property is in a residential area, the neighbors are your best allies. They have a vested interest in keeping the neighborhood safe and maintaining high property values.

Introduce yourself and explain that the property will be vacant for a while. Give them your direct contact information. Ask them to call or text you if they see anything suspicious, such as a truck in the driveway or lights on at strange hours. A neighbor who knows you are away is far more likely to report a prowler than one who assumes you have guests.

Turning Liability Back Into an Asset

Protecting your unused real estate asset does not have to be a source of constant stress. When the time comes to sell, lease, or occupy the space again, a well-maintained building will yield a much higher return than one that has been allowed to deteriorate.