Students are heading back to college, so that means more risk for those who own apartments, commercial and other RE buildings/assets that cater to college aged renters.
Do you have a system in place to check your rental housing properties for potential hazards that are accident-prone for college students? Do you have educational materials that are distributed to your student residents about fire safety?
Below are two articles related to accidents involving college-aged rental residents. Please share these stories with those on your leadership, leasing and maintenance teams~
Two SIUE Students Die After Apartment Fire
http://fox2now.com/2012/04/22/edwardsville-apartment-fire-injures-siue-students/
IU Student Dies After Fall From Balcony
http://www.heraldtimesonline.com/stories/2012/04/21/news.student-critical-after-fall-during-party.sto
Within your property management company—-what are your policies/procedures for how often your team checks for missing and/or broken railings on balconies throughout your multi family rental housing communities?
How often do you send communication to your rental housing residents—reminding them of the procedures in place for balcony safety? Do you have a internal tracking log for the replacement of smoke detector batteries at your rental housing communities? Are your student residents reminded of evacuation procedures in the event of a fire?
Focusing on student safety…how does this tie into your real estate and multi family apartment building insurance coverage?
What does your insurance policy require regarding balconies at your multi family rental housing communities? Are there any special clauses in your insurance policy regarding student housing? Would you like to learn more about industry best-practices?
Grill usage on balconies is a common fire hazard that most insurance companies prohibit. Does your insurance policy have any such language?
Would you like our team to do a comprehensive review of your real estate building insurance coverage—related to student safety at your rental housing communities?
To learn more about this topic and to read the news, trends and ideas being shared by multi family PM leaders—join the discussion thread below~with 70+ posts.
Industry Knowledge, Real Estate Building Insurance
http://www.linkedin.com/groupItem?view=&gid=36805&type=member&item=76772122&qid=0dc2d3c2-c9cd-4dc8-b481-ed2e4f93d5cb&goback=%2Egna_36805
Crag Simmons
Power Insurance & Risk Management Group
http://www.PIRMG.com
877-602-6030
