GROUND FORCES
THE NUTS & BOLTS
OF COLLATERAL
SECURITY
By Andy Beth Miller
Maintaining a safe and secure property isn't a
difficult proposition. Take a closer look at these
solutions for risk areas to minimize damage,
blight, and servicer liability.
T
he housing downturn has left a string of vacant, foreclosed homes
across the country. These empty shelters attract crime, sap property
values, and breed blight and deterioration. Servicers, asset managers,
property preservation and management firms, agents, and investors all
find themselves holding vacant real estate with clear areas of vulnerability.
Both the insurance risks and lengthy list of
liabilities accompanying ownership of vacant
property can be daunting at first glance to those
unprepared or unequipped to handle them.
Anyone tasked with managing the vacancy byproduct of the housing downturn must be wellversed in risk management and have a good grasp
52
of proactive, preventative measures for ensuring
adequate protection.
Apart from the obvious necessity of obtaining comprehensive insurance coverage for each
property, there is a wealth of information available
in today's market to educate and equip property
owners and managers with how to best secure
their properties in order to reduce both risk and
liability. With such an influx of useful information
and advice, it can be somewhat overwhelming.
To help ensure you're getting the best protection
on the market for your vacant properties DS News
went straight to the experts in the field to get down
to the basics of protecting your properties even when
no one is around. From simple solutions to more
complex cures, we've gathered a detailed collection
of the most up-to-date resources and products available. Whether you're concerned about trespassers,
vandals, squatters, thieves, or even those pesky
wildlife varmints, proper property protection can
bring you peace of mind.
