Managing residents is only one aspect of profitability for today’s real estate owners and operators. Another is preserving base building systems. Systems upkeep, from the building envelope to the mechanical, electrical and plumbing infrastructure, maintenance and systems, is critical to minimizing exposure. Here’s a look at the top five building systems and the potential liability they carry if not property maintained.
The building’s envelope—its roof, windows, cladding and doors—can all be susceptible to leaks. The envelope is a building’s first line of defense when faced with a weather event, like a hurricane, strong winds or a heavy storm. Wind can break windows or water can leak into a punctured roof. Extreme heat and cold can also create damage when the building envelope is deficient.
Insurance Coverage: Damage to a building will be covered by the building’s property policy. If caused by a third party or adjacent building, the property insurer may then seek reimbursement from those responsible.
Tip: Do regular, routine building inspections across the envelope. Secure all roof equipment properly.