This article has been submitted by Ad Hoc
With the rising price of property spreading at astonishing rates across South Wales, there is a huge requirement for cost-effective alternatives to the more common routes of house buying and rental solutions. Alongside this, there are rising numbers of empty residential and commercial properties across the country sitting idle costing property owners money to upkeep both in terms of rates and security.
The effect of these empty properties are many and often far reaching, not only impacting those who simply can’t afford a place to live, but also bringing down local communities as they struggle with an uprising of empty buildings and therefore a decrease in footfall to the areas.
To bring this into perspective, when a property is left sitting empty, especially over a long period of time, it can become a target for anti-social behaviour. For example, squatters and vandals often flock to boarded up buildings frequently resulting in damage, which forces the property owner into having to pay for costly repairs. Additionally, when buildings are left vacant for too long, they begin to deteriorate. For instance, pipes can burst, pest problems can arise and in turn, these issues often lead to such problems as electrical faults which can cause fires and other expensive problems.
In many cases, to make sure a property stays safe, owners hire very expensive security guards or install a security system. However, having these over a period of time could wipe out large amounts of money, sometimes at the detriment of other projects. With this as a backdrop, what alternative solutions should empty property owners consider?
Ad Hoc Property Management has devised a solution that can take care of the security needs of an empty property cost-effectively, which is currently working well across the border in the UK. Entitled the “Property Occupation Model”, it has been designed to repurpose and inhabit these empty buildings so property owners can hang on to them until they decide what to do next.
The way it works is easy- a “guardian” is given the opportunity to live in the empty property at an affordable rate until either they find a more permanent solution or the property owner makes a decision around what they want to do with their property. The guardian helps to ensure that maintenance and anti-social behavioural problems don’t arise, as well as helping to cut back on upwards of 80 percent of what hiring security would cost. Additionally, property owners would not only be repurposing empty properties in their communities, but they would also be aiding in the recovery of the current housing crisis.
“Boarding up buildings or hiring security guards no longer needs to be a property owner’s only options,” says Simon Wright, Area Manager for South Wales at Ad Hoc Property Management. “Our solution allows owners the chance to take their time about deciding what they want to do with their property after it has become empty, without the risk of it becoming run down over time.”
The model works on what is called a license agreement between the individual and the property guardian company, for example Ad Hoc, which provides strict guidelines for all parties to adhere to. Designed to deliver a strong framework whereby every guardian is vetted and approved, the property owner can have complete confidence that the building will not come into disrepair.
To find out how you can secure your empty property or for more information about Ad Hoc Property Management’s property occupation model, click here www.adhocproperty.co.uk.