Bracing for Disaster
Sometimes there’s nothing you can do to avoid having your company or properties in the path of a storm—whether a natural disaster or an economic crisis. But I hope the October issue of Apartment Finance Today helps to prepare you for the unexpected disasters that might come your way.

In our Multifamily Disaster Survival Guide, we share real-life stories on how multifamily owners have fared after fires, tornadoes, and hurricanes, as well as what lessons they learned from those experiences.

Having a plan in place for the unexpected and a solid insurance plan to back you up during the aftermath are your best bets to recover quickly and minimize financial losses. But you need to also remember there’s more to it, like being there to support your residents during these tough times.

After a fire at one of his developments a decade ago, Tom Aderhold, president of Aderhold Properties, and his staff were quick to respond after another one of his properties was hit by a tornado in downtown Atlanta this past March. What impressed me most about Aderhold was how he prepared his staff for different scenarios—such as power outages and shootings on the properties. Just because you think it could never happen to you doesn’t mean it won’t. 

Hanley Wood, Apartment Finance Today’s parent company, also has created a tool to help you weather the storms affecting your day-to-day business—www.housingcrisis.com. This new site offers as-it’s-happening finance, policy, and economics insight—via articles, info-graphics, blogs, video flashes, aggregated links, and resources to help you make smart decisions amid the housing and economic crunch.