Be Prepared for Water Damage
One of the most tragic things that can happen unexpectedly with any type of rental property is water damage. In a real-life story from Houston Property Manager Kathy Grey at Real Property Management Houston, the Memorial Day flood in the year 2015 lead to a variety of property damage and a tenant of hers that wanted reimbursement for the items that they lost when the lower level of her rental property flooded.
Water damage can occur due to a number of different factors whether it’s a leaky refrigerator that has fallen under disrepair, a hot water heater or a serious flood incident. A happy tenant is the number one responsibility of a property owner, the property comes next and it’s important to consider your tenants first in the event of a serious situation such as a flood or water damage.
With Oklahoma City property management, being prepared for flood damage is essential. Having a plan in place in the event that your property floods and making sure that your tenants are prepared to protect your property by turning off water, contacting individuals when they see signs of flooding and more is extremely important as well.
Make sure that your tenants know their responsibilities to warn you in the event of a flood and that what happens during flooding is outlined in a lease agreement. Even if you live in an area where flooding or freezing pipes does not regularly occur. Make sure that you can check in on your tenants if the temperature dips down. Something as simple as sending a text to your landlord or notifying your tenants to be prepared to set the thermostat in case the temperature dips down could save your property.
Make sure that your insurance policy also covers flooding if you are a property owner as well as a renter is important. Look into your insurance policy annually and see how it covers water damage. Understand your insurance policy in your responsibilities as a property manager or a tenant. Many insurance policies will not cover you if you don’t perform regular maintenance to prevent water damage or an emergency! Bottom line is be prepared for water damage whether you are a tenant or home owner, it will save you time in the long run and help your life run a bit smoother if a flood should occur.