Natural disasters can strike unexpectedly and with minimal warning nationwide. Hurricanes, tornados, wildfires, and flash floods can cause widespread damage to homes and lives across the country.
In the event of property damage from a storm, fire, or flood, rental property owners should know the necessary steps and reliable contacts. This information is key to ensuring renter safety and successful disaster recovery.
Create a Response Plan
Now is the ideal time to start planning for disaster recovery. Drafting a recovery plan can greatly influence how well you recover after a disaster affects your rental home. By planning in advance, you can take present actions to reduce the severity of natural disasters.
Starting with the purchase of appropriate insurance coverage is recommended. After that, assess your properties in detail to determine the natural disaster risk for each one. You should also meticulously inspect each rental home, paying attention to the strength of retaining walls, tall trees, and other possible issues.
After a Natural Disaster
If a natural disaster impacts your rental property, your initial priority should be to check on your tenants and secure their safety. Subsequently, document the damage to your property thoroughly with photographs and notify the relevant authorities and your insurance company.
When there is substantial damage, your tenants may need to find alternative housing through their insurance, and you should quickly contact inspectors and contractors for repair estimates.
During a disaster, a team of experienced professionals will ensure resident safety, assess property damage, document it with photos, and give you the necessary information to begin recovery. They will handle coordination with your insurance company, make sure inspectors and contractors are fully licensed and insured, and aid tenants in securing temporary housing if required.
Facing a long list of tasks, your best and most efficient option for a speedy recovery is a reliable property management company. Real Property Management Legend can assist you in assessing the risk level for your rental property and planning to minimize damage. Call us at 214-227-2404 or contact us online.
Originally Published on December 28, 2018
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