Disaster Management and Loss Mitigation Strategy
Hurricane Mathew left a firm imprint on South Florida real estate after it passed. With over 4,000 units in the state, an effective planning and mitigation strategy had to be prepared and implemented to secure all assets.
The spontaneity and sheer strength of natural disasters are a major cause for concern in the real estate industry. Protective measures must be established to protect the residents and ensure the structural integrity of the properties.
Successfully arranged for the storm weeks in advance through initiating proactive maintenance and resident awareness. Post-storm restoration teams were on the ground within less than 24 hours, and proper documentation allowed for the recapture of lost business profit.
- Post Storm Asset Inspection Protocol Savings: 3.75MM
- Stabilized Florida occupancy levels at 93%
- Improved natural disaster preparedness plan
- Excellent response from tenants on tenant safety measures
“Tzadik’s unity as a company and relentless work ethic allows for us to quickly prepare a disaster management plan, and coordinate with all tenants to best ensure their safety during critical events like Hurricane Mathew.”
Senior Asset Manager Will Neuner
SVP of Business Development
11098 Biscayne Blvd, Miami, FL 33161