Hurricane season is a big issue for property owners in the Gulf South. Storms can bring high winds, heavy rain, and flooding from June to November. If you own investment properties in this area, you had better be ready. Without the right precautions, your investment may suffer significant damage, which will cost you time and money to fix, and you will be without tenants.
This article will describe how hurricanes affect rental properties and what landlords should do to avoid the damages. We will also explain how property managers, including Wurth Property Management, can assist in the protection of your investment.
The Risks Hurricanes Pose to Rental Properties
Hurricanes present several threats to rental homes, including:
Structural damage – High winds can remove the roof, break windowpanes, and bring down fences.
Flooding – This is caused by heavy rain and storm surges, which may lead to the development of mold and expensive repair and replacement.
Power outages – Storms tend to knock out power, leaving tenants without climate control, a way to store food, and light.
Tenant displacement – Extensive damage can render a property unlivable, making tenants have to leave their homes and the property owners to lose the rental income.
Insurance claims and delays – In the wake of a storm, many people are left waiting for insurance settlements and repair services.
What Landlords Should Do Before Hurricane Season
The best way to approach this problem is to prevent it from happening in the first place. Here’s how to prepare:
Review Insurance Coverage
It is advisable to confirm that your policy includes cover for hurricane destruction, including wind and flooding. Homeowners’ insurance does not always include flood protection; it is worth checking with your insurer.
Secure the Property
- All trees should be cut back to avoid their branches falling on the buildings.
- Storing the windows with storm shutters or impact-resistant glass.
- Moving all the outdoor furniture and other items which can be easily moved to and from the property.
Inspect Roofs and Gutters
A strong roof can help prevent a lot of damage. Ensure that all weak points are fixed and that the gutters are clean to allow water to flow out easily when it rains heavily.
Create an Emergency Plan for Tenants
- Give your tenants emergency contacts and escape routes.
- Tell them where to find the flashlights, batteries, and first-aid kits.
- Recommend them to get renters’ insurance to cover their personal belongings.
Backup Important Documents
The property records, lease agreements, and insurance policies should be copied and saved in a safe place in the cloud.
Steps to Take After a Hurricane
If a storm does hit, landlords must act quickly to assess damage and restore the property.
Check on Tenants’ Safety
Phone your tenants to check on their welfare and find out if they require any assistance.
Inspect the Property
Once it is safe to do so, go through the property and identify any damage done. Look for leaks, broken windows, and structural damages.
Document the Damage
Take photos and videos of the damage to support the insurance claim. The more proof you have, the faster the claims process will be.
Make Immediate Repairs
- To prevent further damage, cover broken windows.
- To prevent water from getting in, cover damaged roofs.
- To prevent the growth of mold, remove any standing water.
File Insurance Claims Temptation
As soon as possible, you need to report the loss and get funds to start the repair work.
How Property Managers Help During Hurricane Season
The task of handling a rental property in a hurricane-prone area is a year-round job. It is therefore possible for a property management company to handle most of the work so that the landlord can sit back and relax. Here’s how they help:
Preventative Maintenance – Property managers also ensure that the property is checked regularly and repaired before a storm can cause damage.
Tenant Communication – They educate tenants on the precautions to take and assist them in preparing for the storm.
Emergency Response – They check on the tenants, determine the damage done, and make arrangements for the repair of the property after a hurricane.
Insurance Coordination – They process the insurance claims and involve the right people to ensure that the property is restored to its original state as soon as possible.
Legal Compliance – They make sure that landlords comply with the laws that pertain to disasters and the rights of tenants.
If you own rental properties in the Gulf South, don’t wait until a hurricane is on the horizon. Let Wurth Property Management help you prepare, protect, and recover. Contact us today to learn more about our services and how we can keep your investment safe.
