We're seeing a lot of Hurricane Florence preparedness posts... but what about your commercial property?
1. Create a business emergency preparedness kit
Establish emergency procedures with your Property Manager. Stock up on supplies in the workplace like commercial and portable generators, power cords, fans, dehumidifiers, tape, garbage bags, coolers, coffee, water, disinfectant, paper products, emergency lighting, batteries, and single line phones. Make sure generators are serviced and a supply of fuel is purchased.
Above all, prepare your residents. Make sure your tenants update their emergency contact information with your Property Manager. Social media and property web pages are a great way to bring hurricane awareness to residents, as well as printed flyers. These can be essential tools in communicating with residents about evacuation or building closure plans in event of a storm.
3. Secure your property to minimize damage
Be sure that trees and shrubs around the property are well trimmed so they are more wind resistant. Also, clear loose and clogged rain gutters and downspouts, and bring in all outdoor furniture, decorations, garbage cans, construction materials and anything else that is not tied down. Otherwise these projectiles can be used by the wind to pummel your property, or neighboring homes, resulting in lawsuits. Close all interior office doors to minimize damage.
4. Dealing with the aftermath
The most dangerous and trying parts of a hurricane are often in the weeks following the storm. Utilities, basic supplies, and communication lines can be out for a long time. There may be interruption in your income and banking. Be sure to reach out to creditors, business partners, staff, and tenants, and work out resolutions in advance. Insurance policies should be reviewed and clarified regularly, well in advance of any disaster.
5. Secure a great property management team
Having a great team and good contractor relationships can be make or break. They will be vital in helping prepare properties, and securing your other business assets and operations. After a storm you’ll need them to get out fast, document and report damage, secure properties and make immediate repairs. They should be equipped with all the materials you may need, and on call. After a storm hits building contractors will be booked out fast, and if you don’t have relationships with them, minor damage could completely total your assets by the time you can fix them, or will become so expensive that you can’t afford it. Colliers property managers and building professionals are business people first, working in partnership with you to achieve your ownership goals.
For more information about Colliers International Property Management, please contact:
Director, Research & Communications
Colliers International | Richmond & Norfolk
804 591 2439