In a market and in a world of increasing risks, it is prudent for multifamily operators to have a firm grasp of their property’s exposure and correctly allocate precious resources. While insurance is an important tool “in the quiver,” there are a number of ways property managers can fortify their assets—both to the benefit of their bottom line and the resident body.
Heidi Much, vice president of risk management services at Village Green, believes that the industry is evolving in its perspective on risk management, and that certain elements that might have been under appreciated in the past are now being put on an even footing with more traditional approaches relating to insurance.
“We’re taking a more holistic approach to risk now than ever before,” says Much. “We’re not just looking at the physical building and the people, but we’re looking at the business risk as well. Cyber liability is a business risk. We’re looking at contractual risk. We’re looking at financial risks from the standpoint of: can I re-finance this property?”
Read more...Assessing the Risk | Multi-Housing News Online
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.