When it comes to harsh weather and natural disasters, the unexpected is becoming more common. Hurricanes, floods, tornadoes, and storms have battered investment property from coast to coast—with no signs of slowing down.
While investment into the build-to-rent property market proves significant despite a global pandemic, more buyers are gravitating towards single-family rental units. The US has shown surprising resilience in the build-to-rent sub-market.
In an ideal world, an investor will never have to file an insurance claim on any of their investment properties. Unfortunately, if you have multiple properties within your real estate portfolio, filing a claim is inevitable. The larger your portfolio is, the likelihood of a claim only increases. Thankfully, you can take some simple steps before and during a claims process to make sure it is processed as quickly as possible.
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.