Public and affordable housing organizations strive to fill vacancies as quickly as possible to meet community needs and avoid lost rental income, but that’s not always feasible. When units or entire properties sit empty, the risks can quickly escalate. Without proper monitoring and maintenance, vacant spaces are more vulnerable to damage from fire, water, and severe weather.
This guide outlines essential strategies to help you safeguard vacant units and properties, protect your assets, and reduce liability exposure. Plus, don’t miss our companion checklist, designed to help housing professionals stay organized and consistent when managing vacant spaces.
What you'll learn
- The difference between vacant and unoccupied properties—and why it matters for insurance
- Fire, water, weather, and security risks associated with vacant units
- Inspection and maintenance best practices to avoid unexpected damage
- Steps to reduce arson and unauthorized access risks
- Insurance policy implications to watch out for
Why this matters
Fires in vacant buildings cause over $700 million in property damage annually, with more than 50% occurring in unsecured properties. Frozen pipes, vandalism, and undetected hazards can add to major liabilities, especially if you’re not properly covered.
Housing organizations must be proactive in identifying and addressing these risks. This guide and checklist provide the practical tools to help you do just that.
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This article is for general information only. HAI Group® makes no representation or warranty about the accuracy or applicability of this information for any particular use or circumstance. Your use of this information is at your own discretion and risk. HAI Group® and any author or contributor identified herein assume no responsibility for your use of this information. You should consult with your attorney or subject matter advisor before adopting any risk management strategy or policy.
HAI Group® is a marketing name used to refer to insurers, a producer, and related service providers affiliated through a common mission, management, and governance. Property-casualty insurance and related services are written or provided by Housing Authority Property Insurance, A Mutual Company; Housing Enterprise Insurance Company, Inc.; Housing Specialty Insurance Company, Inc.; Housing Investment Group, Inc.; and Housing Insurance Services (DBA Housing Insurance Agency Services in NY and MI).
