Investment & business
Bought to renovate and resell, and empty the whole way through.
A renovation vacancy on a deadline, where every week of delay costs carrying charges.
Typical duration
Two to six months
Notice you get
Planned
Contactable?
Yes
Dominant risk
Schedule slip, theft, and freeze during works
A flip combines a renovation vacancy with a financing clock. Carrying costs run whether the trades show up or not, so schedule slippage is directly expensive in a way it is not for an owner renovating their own home.
The property is empty, full of materials and tools, unlocked during working hours, and frequently in an inner-city community where that is visible.
Coverage is also its own question. Standard homeowner policies generally do not respond to a vacant property under renovation held for resale.
What makes this different
Every situation on this site is empty for a reason. These are the things specific to this one.
A financing clock on top of the renovation
Delay has a direct weekly cost, which changes the value of somebody making sure trades actually attend.
Materials and tools on site
A more attractive target than an empty house, in a property that is visibly under work.
Coverage almost certainly needs to be specialised
Vacant, under renovation, and held for resale is three strikes against a standard policy.
What typically goes wrong
- Trades not attending and nobody knowing until the next visit
- Materials and tools on an unoccupied, visibly-under-work site
- Intermittent heat through winter works
- Coverage not responding to a vacant renovation held for resale
Services
What this situation usually involves
In roughly the order people add them.
Vacant Home Checks
Scheduled physical visits to an unoccupied property, with a timestamped photo record and a written report after every visit.
Contractor Access & Attendance
A representative opens the property for a scheduled trade or professional, logs arrival and departure, and secures it afterwards.
Photo Documentation
A timestamped photographic record from each visit, kept as a running visual history of the property.
Temperature & Freeze-Risk Observation
A recorded interior temperature reading at each visit, with freeze-risk observations through the Alberta winter.
Other investment & business
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