Meeting with your insurance agent for a free annual review is the best insurance policy that you could provide to yourself. Your agent is there to alert you about different ways that you can better protect yourself. Three years ago my State Farm agent suggested having the renters in my apartment complexes add renter’s insurance. I also added it for my 20-year-old son at the same time—and was I glad I did. Six months later there was a fire six months later in the house he and his roommates were renting. He was the only one with renter’s insurance and was able to replace all of his household contents, including his high-end electronics like his computer, printer, and camera. Call me today if you need a recommendation for a good Insurance agent.
This article outlines some excellent suggestions for promoting fire safety in your multifamily apartment complex or other rental properties:
8 Ways to Promote Fire Safety in Your Rental Properties
The New York Times is calling the early fire season of 2018 the new normal as more than 100 wildfires burn across the United States. These devastating fires are burning homes and structures, destroying forests, fields, and hillsides, and taking lives .
As a landlord, there are steps you can take to help protect your rental properties. Making sure smoke detectors are functioning in your units is of utmost importance. You can test batteries during your routine inspections, and your leases can stipulate that tenants check the batteries monthly. You should also take care with your property and landscaping. Clear roofs and gutters of dead leaves and debris, and keep flammable materials such as tall grasses and shrubs three to five feet from your buildings. Providing fire extinguishers to tenants is another option to consider.
There are also many steps you can encourage your tenants to take. Some property owners require tenants to have renter’s insurance. Of course you have your own insurance for your property, but in your lease, you can require tenants to have renter’s insurance. Encourage tenants to document their valuables and to develop (and practice) an escape plan in case of fire.
As a housing provider, you must prioritize your tenants’ safety. One of the best ways to keep your tenants safe is to include fire safety and firewise efforts in your management plan. It is a good idea to communicate fire safety to your renters and send reminders before fire season begins. – BiggerPockets.com
The professionals at Pacwest Commercial Real Estate are Eugene multifamily experts. Call us today at 541-912-6583 if you would like an insurance agent recommendation or need our help.
Recent Comments