Helpful Checklist For Property Managers
A multifamily unit can be a profitable commercial property monthly. When a storm hits your area however, you have a responsibility to your tenants to act quickly. Their renter's insurance covers their personal property, but your insurance is responsible for yours. Here are four things you need to do as soon as possible when an emergency occurs.
Establish Communication With Tenants
This may be your business, but it's also your tenants homes. It is important to keep them informed of every facet of the storm cleanup process that affects them. Keeping the lines of communication direct and open can help ensure your tenants willing cooperation.
- Extent of damage
- Timeline for restoration
- Whether or not they need temporary housing
- If the above, when they can expect to return
Call Repair Professionals
You want to get the restoration process started as soon as you can. The best way to do that is to call local flood cleanup specialists at SERVPRO of McKinney at 469-714-4955 as soon as the storm is over.
Contact Insurance Company
Another important call to make is to your insurance company. An adjuster will come out to assess the damage for your claim. Assuming you have the proper insurance coverage to pay for the repairs, this can help ease some of the financial burden.
Keep Up With Finances
Your flood insurance may not cover all the costs of the repairs necessary to make the property habitable again. Keep financial records of the costs. Renter's insurance and your property policy may cover a lot of the costs of repairs. The key is to act fast and stay in contact with your tenants.