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If you have properties that are empty right now, make sure to have adequate financial measures are in place to protect against arson, theft and vandalism – it might be costing you if you don't have tenants, but it could end up costing you the whole property if that empty home isn't protected.

Norwich Union has found that each year there are about 9,000 fires in empty buildings to which the fire brigade are called. The Fire Protection Association estimates that fires, theft and malicious damage in empty premises causes losses in excess of £100m each year.

Allister Smith, property risk manager for Norwich Union, says: "Evidence shows that the prospect of damage or injury arising from empty buildings can be high, even if only temporarily vacant, maybe prior to sale or refurbishment. To reduce these risks it is absolutely critical that they are properly secured and managed throughout this period.

"We are concerned that property owners are putting their portfolios at risk if failing to notify their insurers and take necessary precautions when their buildings are left unoccupied. Although empty, these buildings contain a lot of value in fixtures and fittings and we are seeing an increasing trend in the theft of building fixtures, such as plumbing, electrical cabling and even floorboards.

"Property owners must be equally aware of their duty of care to anyone that enters the premises – from trespassers to members of the fire services. If the property is left in a dangerous state, the owner would be liable for any injury caused."

Norwich Union has reminded landlords about the need to board up any vulnerable points of access, and security patrols put in place if necessary, and then monitored. Rubbish from inside the building and around the perimeter should also be cleared. A general rule is to ensure that the building doesn't look neglected, as one broken window will invariably lead to more.

Look after your property and your property will always look after you in return.

SOURCE: NU, 09/02/09

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