DAWGS (Door and Window Guard Systems) recently conducted a survey about vacant property security. The goal of the survey was to poll investors, owners, rehabbers, asset managers and sellers of vacant property to understand the issues they face when securing a vacant property in economically distressed areas. The survey also provided insight into the preferred method/material used to secure a vacant property in economically distressed areas.
DAWGS team has long promoted the benefits of steel over alternative materials when it comes to securing vacant property. The survey validated that steel is the preferred material used by vacant property owners and managers to secure their properties. The survey also highlighted some of the concerns vacant property stakeholders face.
Brandon, VP at DAWGS noted “The survey validated much of what we have been promoting about the benefits of steel for strength, security and accessibility to vacant property. The survey also allowed us to gain insight into the vacant property security concerns unique to each stakeholder.”
Preferred Material to Secure Vacant Property
The survey revealed that when securing property in economically distressed areas, hands down, steel is the preferred material over plastic clear boarding and plywood:
|Wood board up||7.14%|
|Plastic board up||7.14%|
|Steel board up||85.71%|
The top vacant property security concerns were different for realtors, for owners and for investors. Realtors top concern was safety when showing a property. For rehabbers, the main concern was theft of materials or tools from the job site. Investors and asset managers were concerned about the liability of fire or crime at the property.
Where all respondents did agree – was that steel is their material of choice used to secure vacant properties. Steel was revealed as the best choice to mitigate the risks associated with securing vacant property in economically distressed neighborhoods.
The top security concerns for the entire respondent base overall were as follows:
|Percentage of respondents concerned about:|
|Liability of fire or crime at property||75%|
|Copper theft from property||71%|
|Theft of materials from job site||68%|
|Squatters or drug use in property||68%|
|Realtor safety when showing property||57%|
|Perception of foreclosure’s impact on other property value||50%|
|Allowing passersby to look inside property while under construction||50%|
For anyone who works with vacant property in economically distressed areas, property managers, asset managers, rehabbers or realtors, the material used to secure and protect their property interests really does matters. It is clear from the DAWGS vacant property survey that steel is the material of choice.