When you choose your business property, there is more to consider than just the neighborhood, crime rate, and the building itself. You also need to be aware of the other buildings in the area, particularly if there are vacant properties.
It may seem like vacant buildings are harmless, but there are quite a few risks pertaining to vacant properties and structures. Vacant buildings can lead to a variety of incidents that not only affect the vacant property itself, but any properties in the vicinity, which might include yours. By identifying the risks of having a business near a vacant property, it can also help you to protect your business properly.
Fire
One of the biggest risks with having your business property next to a vacant building is fire. According to the National Fire Protection Association, there are approximately 31,000 structural fires every year in vacant buildings alone. They are responsible for more than 600 million dollars in property damage, and an average of 141 injuries and 50 deaths a day. This includes firefighters getting injured or losing their lives. When you operate a business near a vacant property, you are putting your business property and employees at risk of damages and injuries, respectively.
Vandalism
Another risk with having your business close to the vacant lot or property is vandalism. Vacant properties tend to attract vandalism, more so than inhabited properties. While your building may not be a primary target of these vandal, vandalism can spill over tg nearby properties, including yours.
Theft
In addition, you have a higher risk of theft when your business is located near vacant property. You might note criminals in this area, stealing things like copper pipes and other metal items from the vacant property to sell or recycle. Since they are in the area, they might also make their way over to your building and make your property a victim of theft as well.
How to Reduce Your Risks
There are many risks to be aware of when you choose a business next to vacant property. Fortunately, there are a few ways you can reduce your risks and event prevent such crimes. Here are a few ways to do that:
Install security cameras. One way to protect your property is by installing security cameras. You can keep an eye on your own building, as well as the surrounding area.
Look for suspicious activity. Keep an eye on the vacant property and alert the police if you notice any suspicious activity.
Trim shrubs, trees and remove trash. Keeping the area of the vacant properly clear will deter criminals, which is one of the most prudent business landscaping tips to prevent burglary. When there is trash or large shrubs, it makes it more apparent that the property is vacant. This also reduces the risk of fire.
Have business insurance. When you can’t prevent crimes, you can at least protect your business with a commercial business property insurance policy.
With insurance and keeping a lookout, you have a great way to protect your business from the risks of being near a vacant property.
