From leaky plumbing to poorly sealed windows, water damage can quickly reduce the value of your rental properties and could pose a threat to the health of your tenants. Even if you consider the issue to be a minor water damage, it can quickly escalate into a costly property damage restoration. The property you manage is a sound investment. Quickly and properly mitigating water damage helps keep it so.
Implement a Disaster Preparedness Plan
2. Educate your tenants - tell them the signs to look for and let them know what to do if they notice a leak.
3. Create a "Business Continuity Outline" - decide how to proceed in a water damage emergency. Know in advance a restoration company to contact that provides 24/7 services. Know where you can temporarily relocate tenants if necessary. Review your insurance policy to verify the proper coverage for water damages.
If a Water Damage Does Occur
2. Help your tenants secure their property and possibly relocate to a safe environment.
3. Take action immediately by calling in your water damage professional. They can help to speed the recovery process as well as limit the structural and financial damage.