As hurricane season approaches, North Carolina property owners need to prepare, not just for safety, but for smooth business continuity. If you manage a portfolio of rental properties, proactive steps now can save you thousands in damage repairs and insurance claims later. Here are our top tips at Oak City Properties for protecting your rentals during storm season.
Schedule Pre-Storm Inspections
Conduct thorough pre-storm inspections to identify vulnerabilities. Check roofs for loose or missing shingles, which can lead to leaks and costly repairs. Inspect gutters and downspouts to ensure they are free of debris and functioning correctly, preventing water damage. Verify that all windows and doors are properly sealed to avoid water intrusion and wind damage. Pay particular attention to older properties or those with aging siding or poorly maintained landscaping, as these are often more susceptible to storm damage. Document any pre-existing issues with photos and notes.
Trim Trees and Secure Loose Items
Falling tree limbs are a significant hazard during storms. Prune overhanging branches that could potentially break off and damage roofs, windows, or vehicles. Advise tenants to secure all outdoor items, including patio furniture, trash cans, grills, and gardening tools. These items can become dangerous projectiles in high winds, causing damage to the property and potentially injuring people. Ensure any loose items are stored securely indoors or tied down.
Educate Tenants
Communicate effectively with tenants about hurricane preparedness. Provide a detailed checklist that includes emergency contact information, evacuation routes, local shelter locations, and instructions on what to do during and after a storm. Emphasize the importance of reporting any property damage immediately. Clear and consistent communication builds trust and ensures tenants are well-informed and prepared. Conduct a virtual meeting or distribute written materials to cover all necessary information.
Review Insurance Coverage
It’s crucial to review your insurance policies to ensure adequate coverage. Confirm that your policy includes protection against flood damage and wind damage, especially if your properties are in high-risk zones. Consider adding riders for loss of income coverage if you rely on rental income to meet financial obligations. This will help protect you from financial strain if properties become uninhabitable. Consult with your insurance agent to understand your policy’s specifics and any potential gaps in coverage.
Document Everything
Before a storm arrives, meticulously document the condition of each property. Take time-stamped photos and videos of the interior and exterior, including the roof, landscaping, and any outdoor structures. This documentation will be essential if you need to file an insurance claim. Clear, comprehensive evidence can speed up the claims process and help ensure a fair settlement. Keep all documentation organized and readily accessible.
Have a Response Plan
Develop a detailed post-storm response plan. Respond promptly to tenant damage reports and keep everyone informed about repair timelines. Establish partnerships with reliable contractors and service providers before a disaster strikes, so you’re not left scrambling afterward. This will help you address repairs quickly and efficiently. It’s also good to conduct regular communication updates with tenants regarding the recovery process.
Staying Ahead of the Storm
At Oak City Properties, we understand the challenges landlords face during storm season and are dedicated to providing the support and resources needed to navigate these challenges successfully. Our goal is to help you maintain your properties, protect your investment, and keep your tenants safe and satisfied. With strategic planning and our expert guidance, you can weather any storm and continue to thrive in the North Carolina rental market.
Oak City Properties is Here to Help
At Oak City Properties, we’re here to support your real estate journey, whether you’re a seasoned flipper or just starting. We provide custom solutions and competitive quotes that tailor our services to what you really need. Our full property management service will work with you each step of the way when renting and maintaining your property. We believe hiring a property management company should be a transparent process built on trust and doing our absolute best to take care of your investment.
Want to learn more about our commitment to effective real estate investing and property management? Contact us today via the form below or call (919) 232-9222.