Home Page Technology Food Group Health Farm Property Management

Property owners exposures are ramped up during the winter in most states.  Both cold and possible precipitation increase the likelihood of outside slip and fall, fire, and water damage.  Moreover, the holidays increase the number of visitors to these sites and thereby increase the internal slip and falls and theft possibilities as well.  Here are some key tips for these winter time property management exposures.

Parking lot and sidewalk maintenance- most apartments, shopping malls, and office buildings have other companies who maintain the parking lot and sidewalk.  If this is the case, the property owner’s risk management is centered around negotiating the contract and supervising its implementation.  Contract should ensure that owner is additional insured on the maintenance company’s policy.  Contract should clearly outline weather triggers for services.  Contract should identify appropriate spots for salt and snow storage with a clear eye to how the lots and sidewalks slope and drain.  On site managers and maintenance professionals as well as tenants, should have a number to call to report lot conditions should there be an emergency condition.  Also due care should be given to tracking in of ice and water internally. Use of mats, signage, and frequent mopping will decrease the likelihood of an internal slip and fall loss.

Enforce voltage limitations for tenants- holiday lighting and space heater usage increase the potential for electrical fires.  Your tenant handbook should prohibit appliances and devices that will overload your electrical wiring.  You can also encourage use of surge protectors over extension cords.

Keep utilities on in vacant units- if you have vacant units, the cost of maintaining utilities in that unit will offset the cost of loss that could result from the lack of heat or water movement causes frozen pipes and subsequent water damage.  

Ensure security measures are properly functioning- Security cameras and alarms will assist in both discouraging theft and in the event of theft, allowing for recovery and/or prosecution of theft.

Reviewing these additional risk management tools and policies during the winter season will go a long way to decreasing the frequency and severity of weather and holiday related risks.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version

Western Service Center
3401 Quebec Street
Suite 3550
Denver, CO 80207

PH: 303-607-9009

Click for the BBB Business Review of this Insurance Companies in Denver CO

Eastern Service Center
2372 St. Claude Avenue 
Suite 224
New Orleans, LA 70117

PH: 504-408-1437