News: Owners Developers & Managers

Beyond flood and fire: Top four reasons to engage a cleaning and restoration company - by Ron Fanish

Managing commercial real estate is a difficult task. Property managers must juggle property upkeep, tenant management, government relations, and more. But often, the most difficult aspect is the unexpected: A flood, fire, or other disaster that can severely damage a property and take months—or sometimes years—to recover from.

While commercial real estate managers can never anticipate when a disaster will strike, that doesn’t mean they have to be unprepared for one. Indeed, there are several proactive steps that can be taken to minimize losses in the event of a disaster. One of those steps is having a go-to cleaning and restoration company on speed dial.

A dependable cleaning and restoration company is absolutely indispensable amid a disaster, and also for dealing with thorny problems like mold and asbestos. By having a trusted partner lined up ahead of time, commercial real estate managers can spring into action immediately in a crisis, and not squander time—and money—when it matters most.

Below, find four compelling reasons to engage a cleaning and restoration company:

1. Lightning-fast response
The hours and days immediately after a disaster are the most important. This is the period of time when damages can be minimized—or, if not handled correctly, made even worse. This is also the period when crucial insurance claims are first filed. Restoration companies are an indispensable ally during this period. They function as emergency service entities, available 24 hours a day, seven days a week, 365 days a year. They can be instrumental in preventing further damage, reducing insurance claims costs, and more.

2. Streamline the restoration process
Dealing with a disaster is stressful enough, and property managers don’t need the added stress of juggling multiple contractors. That’s where a trusted restoration company comes in. A full-service restoration company can prevent confusion and frustration for property managers by streamlining the recovery process and having a single contractor handle all the necessary repairs. This means fewer meetings, fewer negotiations, less bureaucracy — and often, big savings as well.

3. Prevent claim mishandling
Once again, the period of time immediately after a flood, fire, or other disaster is incredibly crucial. This is when property managers document the damages, correspond with insurance companies, and ensure claims are processed fully and correctly. For this reason, an expert specializing in mitigation and restoration services is key. They can ensure you’re taking all the right steps, and in the right order, to meet any and all insurance needs. Conversely, handymen or a less experienced maintenance team are sometimes contracted to perform work following a loss, and they may not be trained or follow proper protocols. This could complicate your claim, losing you valuable time and money.

4. Follow all the rules
In the event of a disaster, there are several protocols and procedures property owners must follow. And not just the insurance ones that we mentioned above—there are also protocols for public health, safety, and other areas. By choosing a trusted restoration company to address the recovery, you can ensure every rule is followed to a tee. Specifically, make sure you’re working with professionals who have IICRC: Institute of Inspection, Cleaning, and Restoration Certification.

Amid a disaster, a property manager’s first priority is always safety. Once everyone is out of harm’s way, a new challenge emerges: Navigating the complex restoration process. That’s why you should work with a trusted cleaning and restoration company—to give you valuable expertise when it’s most crucially needed.

Ron Fanish is co-owner of Rainbow International Restoration of Westchester, Yonkers, N.Y.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
Hunt Commercial Real Estate Question and Answer:  Evaluating the buyer - by David Hunt

Hunt Commercial Real Estate Question and Answer: Evaluating the buyer - by David Hunt

The Purchaser: This is usually a subjective decision. As an example, a large public company may be a desirable purchaser because it is financially strong, but
IREON Insights:  Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

IREON Insights: Research and development tax credit: Very important deadline for amendments is July 6 - by Richard Levychin

If you are a company that either claimed or qualify for the research and development tax credit you need to be aware of the following update resulting from the One Big Beautiful Bill Act (OBBBA).
Follow the upside: How NYC  investors are rethinking real estate - by Thomas Donovan

Follow the upside: How NYC investors are rethinking real estate - by Thomas Donovan

In my earlier years of brokerage, my team had our investor list divided into five brackets – multifamily, retail, office, industrial and development. For the most part, multifamily investors only wanted to see multifamily