BCH’s Mason McEntire covered strategies to help Texas multifamily community owners and managers mitigate risks in ABODE magazine.
Owning and managing multifamily communities is never without its challenges, but in a state as large and diverse as Texas, the obstacles can seem insurmountable. As BCH’s Mason McEntire explained in ABODE magazine, issues such as extreme weather, evolving regulatory landscapes and ever-increasing property insurance rates can make it difficult to determine the best ways to create a quality resident experience while watching out for one’s investment.
In the June 2024 issue of ABODE, Mason offered insight into the inherent risks associated with multifamily property management — and proactive strategies individuals and companies can employ to ensure more successful communities. Read an excerpt from the article:
Understanding the potential issues property owners, managers and investment groups face is just half the battle. The best way to safeguard one’s investment and position multifamily communities for success is to enact a comprehensive risk management plan. Ideally, that plan will incorporate insurance coverage tailored to a community’s unique needs. A professional risk management firm can serve as an invaluable asset here.
By working closely with a professional firm, you have access to a team that understands the rules and regulations that govern multifamily communities, has a grasp of available coverages and their limitations, and can provide invaluable guidance in the event of a loss. They serve as an extension of your team, helping to position your business in the safest, smartest manner possible.
To read the full article, click through to the ABODE website. If you have additional questions, or if you’re interested in learning how BCH can help your multifamily community weather today’s hurdles while creating communities that draw quality residents for the long term, reach out to BCH. Our team is here to help when it matters, and we look forward to hearing from you.