All building management companies will happily show up when it is time to collect management dues, but only a few will be there when disaster strikes. Fire, flooding and other calamities can cause thousands of dollars of damage to a property in a manner of minutes, and reacting quickly is absolutely crucial.
When selecting a property management company or talking with your current property management representative, ask yourself, “Would this person get up at 4 in the morning to call the building manager if he gets a troubling text message from a tenant?” If the answer is not a resounding “Yes,” you might have some reevaluating to do. But a superlative property management company will not sit and wait for disaster to happen — preventative measures such as educating tenants on how to spot and react to trouble, spending a little more on the fire retardant carpeting, or providing escape options for handicapped residents all make a difference to cutting down risk in the long run.
Read the full article Planning for Emergencies at The Chicagoland Cooperator