When I decided that I was going to put my house on the market, I knew that I would have to do some renovating first. The house was a good, solid structure, but I hadn’t kept up the outside of it as well as my husband did before he passed away. I knew that I would need curb appeal if I wanted the place to sell quickly. I had my yard landscaped, my home exterior repainted, and my driveway replaced before putting the home on the market. It cost me a bit of money, but it was worth it – the house sold quickly and I was able to move into my brand new condo – much less maintenance work for me. I started this blog about curb appeal, to help others learn how to move their homes quickly too.
Natural disasters happen all the time. When Mother Nature causes hurricanes, tornadoes, and earthquakes, it can wreak havoc for property owners, and for property management. Implement these four tips to be sure you are prepared for a natural disaster.
Find Out What Disasters Have Already Hit Your Property Grounds
If you have not done so already, ask your insurance company for a copy of your Comprehensive Loss Underwriting Exchange (CLUE) report. This report discloses all claims on the property for at least the past five years. The CLUE report provides the dates and types of claims against the property. Most importantly, you'll find out if this loss was due to a catastrophic event. This gives you a heads up of what to expect and helps you prepare your insurance coverage accurately. You can also guide your tenants on what to sign up for with their rental insurance policy.
Keep Your Tenants Information Up to Date
Your tenants are never your direct responsibility, but in the event of a natural disaster you do want to ensure everyone is all right. If you have a website they can log in to update their information, this may make it easier for them. Otherwise, just ask them to update their phone number and their emergency contact's phone number with the main office every six months.
Keep All Your Documentation Backed Up Electronically
When disaster strikes, you could lose all your important documents. Scanning and storing your documents to a cloud storage solution provider is your safest and easiest bet. You can do so for free on Dropbox and Google Docs. So no matter where you are, you'll always have access to these important documents. A few documents to immediately backup include
Talk with Vendors about Their Protocol
Reach out to your vendors about their protocol in a disastrous situation. It's also advisable to have a few vendors you can call that are outside of your province. If the entire province has been affected by the disaster, it's good to know which vendor you can turn to for assistance. You may need supplies such as gas, extra generators, or new computers. Look into having an open line of credit now, so you won't have to tie up your available funds.
Knowing the disasters you could be faced with is your first step in preparing your units and tenants for a natural disaster. You will now be armed with the information to prepare your emergency plan.Share
8 October 2014