If you’re a San Antonio landlord and an emergency occurs that impacts your rental property, you need to make sure you are prepared to handle it. When you’re in the heat of the moment and you’re managing a lot of different things to protect your residents and your rental property, it’s easy to feel a little freaked out. We’re trying to prevent that feeling of uncertainty and helplessness, and today we’re sharing some of the best procedures to follow when you find yourself managing a crisis you didn’t expect.
First, Stay Calm and Relaxed
Staying calm sounds like great advice, but it’s also very hard to achieve because we’re human. A lot of times people want to react quickly out of fear or adrenaline. We understand this, but what you need to know is that sometimes by reacting the wrong way, you’re actually reacting to the wrong situation and potentially making matters worse. You have to be able to take a clear and unemotional look at the actual emergency and how you need to handle it.
Take a breath and see what’s happening. It will lead to a better and more effective solution than what you can do based on a knee-jerk reaction.
Next, Assess the Emergency Situation
Once you have given yourself a few seconds to take a breath and stay calm, you need to figure out everything that’s needed in the immediate moment. Look at all the pieces that are contributing to the catastrophe. If you can work hard at having the bird’s eye view while in the middle of an emergency, you can get a good look at everything that’s going on as a big picture. This gives you the ability to make smarter decisions based on what you’re seeing and not what you’re fearing. You might be tempted to worry about one thing, but it could turn out that the real emergency is something else. Don’t focus on minutia; look at the entire situation as a whole and how it impacts your investment and your residents.
Stop the Emergency as Best You Can
When you are safe and your residents are safe, you need to focus on stopping the emergency and preventing the spread of additional damage. If the house is flooding or there’s a fire, you have to take appropriate action so that the flood doesn’t get worse and the fire doesn’t spread.
These will be different actions.
If there’s a flood, you’ll want to shut off the water supply to the house before you do anything else. If there’s a fire, you’ll want to get all people out of the house and then call the fire department or 9-1-1. Make sure your residents know the proper chain of events as well. You don’t want your resident to call you before they call the fire department. If your home is managed by a San Antonio property management company, make sure your residents are calling your property manager.
The first reactions, if they’re wrong, can make a situation worse. Know how to stop the emergency, and make sure you’ve trained or educated your residents in how to stop the emergency.
Focus on the Solution and What Needs to be Resolved
Once the house is flooded or there’s a fire and you’ve stopped it from getting worse, the next step is to work through the emergency. This could last a few days or a few week, depending on what’s happening. A flood from a burst pipe can be resolved quickly, but the COVID-19 pandemic that we’re currently dealing with is long standing. You have to make sure you know what you’re doing and you have to be prepared to see the entire solution through to the end.
Cool heads will always prevail. Don’t focus on the problem; work towards the solution instead. You can lose a lot of valuable time by worrying and giving into an emotional response. When you’re focused on the actionable items that you can actually control, you’re inviting better outcomes into the emergency.
Focus on your insurance records and gathering the pertinent information. You’ll want to make sure your policies are up to date and you’ll need to know whatever emergency you’re experiencing is covered. Make sure you have all the necessary contact information for your residents. That’s going to be something that you need to have at all times, and it has to be accessible.
Communicating with San Antonio Property Managers
Emergencies often show real estate investors the importance of having a reliable San Antonio property management company working with you. When a crisis occurs, you should be able to count on your management team to follow the plans that were already in place. Property managers are experienced when it comes to dealing with several different types of emergencies.
Communication with your property manager will be essential during an emergency. Stay in touch so you can work on this together. Over-communication during the emergency is your key to success. Everyone involved can work together to ensure the proper outcome.
When you’re in the middle of an emergency, remember to:
Assess the situation.
Stop the emergency.
Focus on a solution.
If you do these five things, no matter what the emergency is, you have a good chance of stopping the pain, mitigating the damage, and not making it worse. We’d be happy to help you through whatever emergency you may be experiencing with your San Antonio rental property. Contact our team at Mynd Property Management today.