The Commercial Real Estate Alpha Site

I often find The Palm Companies newsletter informative and helpful… This time around is no different. Enjoy.

Investment Commentaryby principals Josh Diggs, Rachael Munkwitz, Dan Pepper

As we clean up storm-damaged properties & relocate over 100 residents, we wanted to share a few tips that we’re giving clients:

Perform a Wind Mitigation inspection, and have a group like Third Nail install roof clips if they’re missing.  These will reduce your property insurance premium.

Retain a Public Adjuster if your property sustained damage.  Don’t just pick any group out of the Yellow Pages, as many are too busy to add true value.  But a good adjuster like Altieri can earn you higher net proceeds, and/or advise you through insurance claims.  

Sign a Termination of Tenancy & Mutual Release with residents in storm-damaged apartments.  We recommend refunding security deposits fully, and you must abate the rent for days that the apartment is not inhabitable.

Bind flood insurance, whether in a flood zone or not.  To reduce premiums, ask a group like National Flood Experts for tips such as applying for a LOMA or building berms.  Compare the NFIP vs. private flood insurance.