It really is something all this extreme weather we are experiencing. It seems that for many years something of Biblical proportion is happening in some corner of the world. These things are not just occurring over there. Calamity is taking place right here too. Even in our own backyard!
These things destroy property, ruin lives and set back society for many years.
I am not an expert and have no answer for why this is taking place. I have no solution for it either.
How do we cope with the fallout? How do we reduce the risk of something happening? How do we minimize the loss after a tragedy has occurred?
The answer to minimizing the risk of something happening is beyond me so I will not even try to offer a solution.
In keeping the loss to a minimum after the fact I can offer some advice.
As a Landlord for almost 40 years I have had a share of misfortune due to the weather.
Make sure that your property envelope is working properly. The roof must be able to keep water out. The grading around the property must drain water away from the basement. Drainage systems must be in good working order when under stress. The power supply must be secured. Do you have backup power should the grid go down?
This list goes on and on and on. I have only given a few examples. We have an idea of what may go wrong, but we do not know for sure what will go wrong. Only after it has happened will we know for sure.
Adequate insurance is a must. But after the fact your insurance company can let you down!
Always have access to quick credit for times like this. A line of credit on your property can be the answer. What I like to have is a reserve of cash locked away in a GIC for emergency only. For this purpose the more you have the better it is.
In times of emergency CASH IS KING!!! No one can cover all the what if situations. Experience has been my best teacher. I hope none of you out there will ever be faced with any of this stuff!