Many state and local governments have enforced cease-work orders, leaving vacant and rehab properties vulnerable to theft and vandalism concerns. If your site(s) is shut down or just vacant, it is important to protect your assets from theft or damage. Even properties that are being renovated are likely delayed from product and worker availability.
Topics: Vacant Property, Rental Property, Investment Property
When you are managing dozens, hundreds, or even thousands of rental units the concern of damage to your property that is caused by your tenants or their guests is ever-present. This concern only increases as your management portfolio grows. If there is unit damage it is often necessary to complete any repairs to the unit to keep it habitable. How those repairs are paid for can be approached in several ways, some less desirable than others.
Like most Real Estate Investors, you have invested a lot of time, effort, and money in choosing the best strategy and properties for your real estate portfolio. Whether your portfolio is still growing or you have a well-developed portfolio already it is important to keep those locations and properties protected to maximize your investment returns. Just like your business has evolved from the first property into a real asset, so do the protection needs.
Topics: Property Management Solutions, Master Real Estate Insurance Policy, Tenant Liability
