INDUSTRIAL & COMMERCIAL REAL ESTATE BRISBANE QUEENSLAND AUSTRALIA

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Stormy Weather – Steps for reducing costs from property damage

Spring has sprung as they say and we have started to receive moderate amounts of rainfall in the past week. Now is a timely reminder for property owners and managers to look at risk minimisation around buildings as we head towards the summer storm and fire season.

Simple practices such as checking roofs for obvious penetrations which may cause leaks, and the removal of debris and rubbish from the roofs and gutters, can significantly reduce damage in the future.

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Landlords and Managing Agents need to ensure they have a documented inspection and maintenance regime. Especially if there is a sudden storm and through poor practices the gutters block, overflow and damage internal finishes and tenant stock and equipment. The tenant’s insurers will seek damages from the Landlord and/or Managing Agent and if there is no clear maintenance programme, then they will argue negligence.

Other sources of problems around this storm season include loose debris around properties that could be picked-up by strong winds and become ‘airborne missiles’. You need to follow-up tenants and formally document your inspections to make it clear of tenant’s responsibilities and – most importantly – to protect your position.

Check properties for fire hazards and especially if the properties are bounded by overgrown vacant sites.

Where possible, over time, try to build a rapport with a plumber and electrician so that if your property is affected, you have greater chance of getting the problems fixed sooner. Generally speaking, if your property is storm affected, then there will be many others and you want to be at the top of the list.

Review the property/s and put in place contingency plans for events such as a major storm, a fire running through adjoining properties or a major power outage. It is not always possible to plan for every disaster but a little forethought now can save a lot of stress and major problems in the future.

Finally, preventative measures are generally a recoverable item so there are many reasons for and few against instituting a maintenance regime.

Should you need assistance with this process or other property management issues, please do not hesitate to contact Daryl Gallagher-Collins or anyone in the Asset Management Services team on 3216 6666.