The Impact of Florida’s Climate on Property Management

Summer is here, which means hurricane season is on everyone’s radar. Florida residents are all too familiar with the impact of natural disasters and climate change in their area. So, when it comes to property management on the coast, it is essential to keep track of how these climate events can affect your homes. Therefore, when The Coast is affected by atmospheric events, you and your home will be more than prepared.

Hurricanes

The most common type of natural disasters in Florida are hurricanes and tropical storms. These storms can cause immense damage to properties. The damage leads to costly repairs and insurance claims. Real estate investors and homeowners must factor in the potential for storm damage when buying property, often requiring higher insurance premiums and frequent maintenance checks. 

There are preventive initiatives that can alleviate damage from these storms. The easiest and most impactful strategy would be to invest in hurricane proof doors, windows, and/or shutters. The investment of hurricane proof material will ensure the vulnerable parts of your home are not damaged by the storm.  Additionally, trimming the shrubs and trees around your property will significantly decrease the potential damage of flying debris. 

Rising Sea Levels

Property managers should be aware of the gutters and sewer systems around their neighborhoods. Flooding is a critical issue, particularly along the Coast, where elevation is at sea level. Although these are year-round concerns, this risk and impact of flooding grows exponentially during hurricane season.

Heavy rainfall and storm surges can lead to significant property damage. Unfortunately, Florida isn’t a state that mandates flood insurance, which is why you must monitor your area’s risk of flooding. Gulf Coast property managers are likely at risk of high flooding. Therefore, these areas must include robust flood mitigation strategies, such as elevating buildings and installing effective drainage systems. 

Wear and Tear

The high temperatures and humidity in Florida often accelerate the wear and tear on properties. Exterior paint, roofing materials, and HVAC systems are particularly susceptible to damage from prolonged heat and moisture exposure. A lack of oversight on maintenance can lead to catastrophic property damage. Common issues among homeowners are mold and mildew. One simple, and very affordable way for homeowners to get ahead of any mold issues is investing in a dehumidifier. 

So, homeowners and property managers must be vigilant about regular maintenance and upgrades to prevent deterioration and ensure the property remains in good condition. Be sure to maintain a consistent schedule of maintenance checks to help ensure your home remains in good condition.

Pest Control

Florida’s extreme climate brings about a variety of pests, such as termites, ants, and roaches. Effective pest control measures are crucial to preventing infestations. When pests settle in homes, they damage the property and disrupt a homeowner’s comfort. Property managers should schedule regular pest control services and respond quickly to any noted pest activity.

Energy Costs

The demand for air conditioning in Florida is significant, which can lead to soaring energy bills. Properties equipped with energy-efficient HVAC systems, high-performance windows, and proper insulation can offer significant savings on energy costs. 

For property managers, promoting energy efficiency not only reduces operational expenses but also makes properties more attractive to potential tenants. Consider implementing green building practices and offering energy-saving tips to residents. Check in with your local energy company, they can help guide you on cutting back on your energy bill.

Insurance Costs

Insurance is a critical consideration in Florida’s real estate market. Even though the state does not require flood insurance, the risks from storms, hurricanes, and other weather events can dramatically increase the price of other insurance premiums. 

On the other hand, properties in lower risk areas or updated storm protection features may command higher asking prices. There is also more competitiveness in these markets. So, the lack of insurance risks may drive up the overall market price of a property. That is why it is essential to weigh the benefits and costs when evaluating insurance risks. 

Communication

Open communication with tenants and/or property managers about climate-related concerns is vital. Providing information on emergency procedures, flood prevention, and maintenance requests can help occupants feel secure and informed. Additionally, offering resources or advice on how to manage energy consumption can be a valuable service for residents.
If you would like to learn more about our property management services and strategies, visit us at https://paradisebreezefl.com/property-management/.