For most real estate investors vacancies is the gremlin that eats away profits.
Now more than ever the increase in vacancies and reduced payments have put additional hurdles in front of property owners.
The declining revenues may force a reduction in staff which may include maintenance team members.
The properties may have now an additional risk that should not be overlooked.
Strengthen your Defenses:
Neighbors– maintain good relationships with tenants and other investors near your properties for additional eyes and ears.
Locks & Reinforcement– secure ALL access points to the building.
Inspect– take regular visits to the site to make sure nothing is out of place.
Landscaping– although an expense, make landscaping a priority to discourage criminal activity and encourage the site to be leased.
Lighting– often overlooked during the day so visit the site at night. Look for damaged and needed additional fixtures.
Pipes and Pest– During regular inspections make sure bigger problems are not setting in.
Rent the space– lowering the “normal” rent price may be a smart decision to save on additional security, maintenance, and insurance.
Alarm systems– these are an additional deterrence and you may get an insurance discount.
Bickle Insurance always want you to be ahead and aware of what can hurt you. Contact us for more information and chat with one of our agents