Natural disasters can strike unexpectedly and with minimal warning nationwide. Events like hurricanes, tornados, wildfires, and flash floods can lead to significant destruction nationwide.
If a storm, fire, or flood damages their property, rental property owners need to know what actions to take and whom to trust. Understanding these steps is essential for protecting renters and recovering efficiently from disasters.
Create a Response Plan
There is no better time than now to start planning for disaster recovery. Developing a recovery plan can significantly enhance the recovery process for your rental home after a disaster. By planning in advance, you can take present actions to reduce the severity of natural disasters.
The first step is to buy the right insurance coverage. Then, perform a comprehensive assessment of your properties to ascertain the natural disaster threat level of each. Moreover, diligently examine each rental home, considering the strength of retaining walls, the risk from tall trees, and other possible problems.
After a Natural Disaster
In the event of a natural disaster affecting your rental property, your top priority is to check on your tenants and ensure their safety. Afterward, document the damage to your property in detail, including taking photos, and inform the relevant authorities and your insurance company.
If the damage is significant, your tenants might need to secure alternative housing via their insurance provider, and you should promptly contact inspectors and contractors to estimate repair costs and time.
During a disaster, a team of experienced professionals will ensure resident safety, assess property damage, document it with photos, and provide the necessary information to start your recovery. The team will coordinate with your insurance company, ensure inspectors and contractors are properly licensed and insured, and assist tenants in finding temporary housing if needed.
When dealing with numerous tasks, hiring a reliable property management company is the best and most efficient way to ensure a fast recovery. Real Property Management NC East can evaluate the risk level of your rental property and help devise a damage minimization plan. You can contact us online or by calling 252-298-5151.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
