Commercial property 'at vandalism risk'

23 February 2010

Written by Steve Olejnik

Commercial mortgage holders are being warned to purchase adequate insurance during a time when there are many empty retail outlets.

Aviva is advising that crime and malicious damage are both major threats to commercial landlords.

Property risk manager at Aviva Allister Smith said that the issue has now become "imperative".

More than three million commercial outlets are vandalised each year, with one-quarter of this occurring in empty shops, Mr Smith claimed.

He added that another risk is the threat of squatters - 20,000 of which are thought to reside in the UK.

"Landlords also have a duty of care to anyone visiting the property, so failure to remove hazards or have sufficient warning signs could mean the landlord is liable for any injury," Mr Smith advised.

These regulations apply even if that visitor is a trespasser, so it is essential that landlords regularly check on the state of their properties.

Should squatters make their way on to buy to let property, the government advises that complex laws exist regarding their removal.

The process could take several months, it explains.

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