Rental property ownership can be a great way to earn extra income. However, for the inexperienced it can also easily lead to financial hardships, especially if the investment owner did not take care to prepare for emergency situations with a good disaster preparation plan. For this reason many rental property owners choose to use a professional property manager such as Martin Feinberg.
Disaster preparation does not need to take up a lot of time, effort, or energy, but it can’t be ignored either. Experienced property managers will take the time to know which disasters are most likely to be a threat to the properties that they manage and will plan accordingly. For many properties, this will be the threat of flooding.
Reliable property managers will endeavor to reduce the flood risk of their properties while also mitigating floodwater damage should it occur. This starts by being aware of weather patterns and local rainy seasons so that precautions can be taken before a problem develops.
Some other tricks for keeping flood damage to a minimum include:
- Maintaining clean and repaired rain gutters and downspouts.
- Adding additional drainage when needed. These devices will likely include such things as french drains and downspout extensions. This will help funnel floodwaters away from the property before they can get inside.
- Informing tenants that when a flood is inevitable, the gas and electricity in the property need to be disabled to reduce the chance of fires and injury.
- Fixing any leaks immediately and sealing cracks in the foundation to help reduce the chances of basement flooding.
- Installing a sump pump in low areas of driveways, carports or landscaping for added protection.
Disaster preparation can seem overwhelming but professional property managers will use the knowledge that they have from years of experience to mitigate risks before they occur. This can help protect the investments and bottom line of the property owners they represent.
