Real Estate Managers: Plan Ahead to Confront the Coronavirus Pandemic

In a rapidly emerging circumstance, business strategies require to foresee risks and potential responses. The COVID-19 virus proceeds to circulate over the globe. All business owners are grappling with the notion of how to confront this health emergency. Landowners and property owners are facing infinite questions concerning the health protection and safety of residents and workers while balancing the requirements of staff and companies. Property owners hold a high standard of reliability, particularly in unpredictable times like this, many people rely for their safety and protection. 


This is the time for landlords and property owners to start managing the current crisis and business succession strategies and also forming new tactics to approach this serious health event. Our perception of COVID-19 and the governmental acknowledgment are constantly changing, landlords and property owners should find updated information and evaluate the risk to ensure that business strategies appropriately address the threat and steps to protect workers and tenants are determined immediately and efficiently.


As we all work to restrain and alleviate the COVID-19 outbreak, hereabouts are essential considerations for landlords and property owners:


Stay Informed

As further is discovered about the COVID-19 virus, guidance from central and state public health administrators will also change. Therefore, landlords and property owners, especially life safety managers and building security managers, should be constantly observing websites for the newest direction from public health authorities.


Evaluate Your Risk

To recognize the most beneficial methods to counter, you need to evaluate your risk.


To accomplish this, first of all, evaluate the extent of risks to your tenants, property, and workers arising from the outbreak of COVID-19. After identifying the inherent risk factors, examine the consequences of every risk. For instance, if a tenant becomes ill, the outcome is that several people in the building could get exposed and fall ill as well. 


After that, place each risk going by, how apparent the risk is to happen and how severe the outcomes of the risk will be. This will assist to focus on the critical issues associated with the spread of COVID-19 and prioritize support and consideration where they are required the most. 


Prepare to Execute Response Plans

During circumstances where your firm has an emergency response and business continuation strategies that inscribe public health events and pandemics, you should strive to perform these strategies. 


Based on the outcomes of your risk estimation, you may observe that your present plans require development to inscribe this critical public health threat. In the aforementioned situation, use direction from public health administrators, industry support, and guidance to obtain relevant changes.


Identify and Implement Employee Safety Measures

Take steps for the protection and safety of your workers. The measures vary based on the responsibilities and duties of the employees and your regular business procedures.


The Center for Disease Control and Prevention (CDC) suggests all Americans shun close contact with others to prevent the spread of the COVID-19 virus. Allow employees to work from home. Evaluate what you require to ensure employees can obtain corporate support while they are working remotely. Guide on accessing your network and managing communication.


For more further understanding of this rapidly growing topic, please attend our webinars.

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