Vacant Property Insurance
Any suggestions on keeping insurance expense down while a commercial property is vacant? After my tenant left, I started doing some rehab to make it more marketable. My insurance company changed my policy to a Vacant Building Policy which increased my monthly insurance expense from $129/month to $500/month!
This is typical for a residential property. Perhaps you will get a better answer in the Commercial Forums.
It is proper to do so, but $500 per month seems high, assuming it is a residential property of 4 families or less...