Empty properties cause problems for homeowners

6th April, 2011

With the number of unoccupied homes in the UK at well over 1 million and over 730,000 in England alone, home owners have been advised to inform their insurer if they have an unoccupied property.

Most insurers will not insure a property if it will be left empty for longer than a period of up to 90 days, this is due to their being a chance that burst pipes and prolonged water leaks can go unnoticed for long periods of time and therefore cause damage to their property. The current economic climate has left many homeowners and landlords with limited finances. The cost of insuring an empty property is not always at the top of their list and damage can be extensive.

If property owners do not let their insurers know that the property is empty the claim for any damage can be turned down by the underwriters.

Properties left empty are becoming a liability for many London home owners who have seen an increase in squatters moving into properties. Many of the properties have been left empty whilst their owners are abroad or are embarking on the property’s renovation. As squatters are able to break in to properties without appearing to break the law, the landlords are facing huge costs in legal action to have the squatters removed.

Many home owners have decided to employ security guards to house sit 24 hours a day whilst the property is empty. This is a far cheaper alternative and gives the home owner peace of mind.

 

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