Now, more than ever, commercial buildings are being left vacant because businesses are working remotely. Although the vacancy may be temporary, commercial property owners should still take the time to ensure that their vacant building is protected. These buildings face a variety of risks, including: Crime, Water, Fire, Pests, and Contamination. Whether businesses are closing for the holidays or due to Covid-19, there are eight steps property owners can take to secure their vacant commercial building. Below, you will find those eight steps:
- Secure the Building – alarm system, security cameras, motion-activated lights, etc.
- Tell the Local Authorities – Let the police know the property is closed and to keep an eye out for suspicious activities
- Inform Vendors and Suppliers – double-check that no deliveries are scheduled
- Let Customers and Business Partners Know – update business hours on website, social media, etc.
- Take Care of the Property – keep up with the landscaping, put the lights on a timer
- Maintain a Reasonable Temperature – a minimum of 40-degrees F, BEWARE of turning off the HVAC system, the cold weather could contribute to frozen pipes.
- Protect the Building Against Leaks – turn off the water supply to interior fixtures (bathrooms), DO NOT turn off water to automatic fire protection systems
- Notify your Insurer – let your agent know about the situation
For more information on this matter, follow the link to Amtrust Financial’s Blog.