RASM NEWS YOU CAN USECOUNCIL PROPERTY MANAGEMENT
Florida Hurricane Season is Here. Are You Ready? By: Stevie Krumm, Broker/Owner, Property Manager Next Home Excellence
T
he longest season in the state of Florida is hurricane season. It technically runs for a generous six months of the year from, June 1 to November 30. Here we are again at the beginning of this scary season, being reminded of all the ways we should be prepared for it. The Property Management Council at RASM recently had a panel discussion with five professionals that are directly related to the impact that hurricanes can have on our properties. They reminded us of some of the best ways to be prepared before and after a tropical threat.
KNOW YOUR AGENT & YOUR POLICY First and most importantly, you need to know your insurance agent and understand the homeowner’s policy that you have. Is wind-driven rain included in your policy? If it’s not, then the damage caused by water that comes in through broken windows or holes in the roof may not be covered. Other things to educate yourself on are loss assessment, actual cash value, and recoverable appreciation. Having a great agent who is looking out for your best interest is essential in getting the right coverage for your property.
UTILIZING A LICENSED PUBLIC ADJUSTER Creating a relationship with a licensed public adjuster before a storm is also very important. They can help you navigate your insurance claim should you have to go that route. Most people have heard that documenting your property’s condition and its contents is crucial to making a winning insurance claim. Taking into consideration the fact that power and internet services may be down after a storm, it is important to know that you can access the photos and videos you took in a timely manner. If you have a vacation rental property that has vacancy for periods of time, enlisting the help of a home watch service and keeping good records of when they visit the property can also help you achieve a better outcome with an insurance claim. 12 | ELEVATE [ JULY 2022 ]
UNDERSTAND YOUR CONTRACT If you own a rental property and it is managed by a property manager, it is important to know what your licensed agent is required to do and what you may be required to do. Read over your contract with the property manager. Will they hire someone to install your hurricane shutters? Will they bring in any patio furniture that may become a projectile? How and when will they document the condition after the storm and notify you if there is any damage? Knowing these small details in advance will certainly help you before and after the storm.
REMEDIATION TEAM Having a remediation team vetted before a storm can also be extremely helpful in getting damage assessed and remediation started as quickly as possible. If the vendor of your choice has a pre-signed authorization to start remediation services already in your file, that will allow them to start work on your property first and help mitigate your losses. Knowing all of these things at the beginning of storm season can truly help reduce the stress and anxiety that naturally comes along with a hurricane. •
