Magazine article Journal of Property Management

Florida Hurricane Aftermath

Magazine article Journal of Property Management

Florida Hurricane Aftermath

Article excerpt

In an IREM survey of more than 300 Florida members, respondents reported on the extent of damage witnessed from the rash of hurricanes that crisscrossed the state earlier this fall. The survey results were sent to the Real Estate Information Sharing and Analysis Center (ISAC), a public-private partnership between the U.S. real estate industry and the federal government formed to counter terrorism and protect buildings and their inhabitants.

Responses on damage levels ran the gamut, ranging from minor landscaping issues to necessary structural repairs, such as roof leaks and flooding, to looting and vandalism. Some of the comments:

"Interestingly, some of our tenants sought refuge in their offices because they had to evacuate barrier islands. This created an issue with locking doors to keep people and wind out since we wanted to give our tenants an opportunity to get to a safer place. The benefit was that somebody was in the building and could conceivably report conditions afterward if they were in the mood to do so," said Brian Stenberg, CPM, of Greenfield Properties in Boca Raton.

"The biggest impact was downed trees and loss of power causing construction delays and loss of revenue at golf courses during cleanup. Future impact may be a shortage of building materials and higher materials cost. A concrete shortage was experienced even before the hurricanes," said Gary Lou, CPM, of Davenport.

"[At our subsidized elderly housing facility] 48 persons will be displaced during a five to six month repair period. [At a second elderly housing building] four residents will be displaced for 90 days," according to Thomas Ahrenholz, CPM, of the Presbyterian Housing Foundation in St. …

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