How Landlords Can Future-Proof Their Investments | Lessons from Cyclone Alfred

Lessons from Cyclone Alfred: How Landlords Can Future-Proof Their Investments

Queensland wild weather, including the recent Tropical Cyclone Alfred, has once again demonstrated the importance of resilience for property investors in Brisbane and the Gold Coast. While some properties were severely affected, others remained unscathed, highlighting the value of strategic investment decisions. For landlords, this event serves as a wake-up call to assess how well their properties are prepared for future weather extremes.

Landlords who proactively plan for extreme weather events tend to experience fewer disruptions and financial losses. 

Here’s what Cyclone Alfred has reminded us:

• Flood-prone areas face higher risks: Properties in low-lying areas suffered extensive damage, reinforcing the importance of flood mapping before investing.
• Well-maintained properties fare better: Buildings with strong foundations, proper drainage, and weather-resistant materials withstood the cyclone’s impact far better than those without.
• Insurance coverage is crucial: Some landlords found their insurance policies inadequate, leading to unexpected costs.
• A reliable Property Manager makes a difference: Those with experienced property managers had faster response times, coordinated repairs efficiently, and maintained clear tenant communication.

Improving Property Resilience

To safeguard against future cyclones and floods, landlords should consider:

• • Upgrading drainage systems: Proper drainage can significantly reduce water damage during heavy rains.
  • Investing in weather-resistant materials: Using flood-resistant flooring and reinforced structures can minimise long-term damage.
  • Raising electrical systems: Installing power outlets and key appliances at higher levels reduces flood risk.
  • Ensuring regular property inspections: Preventative maintenance helps identify vulnerabilities before they become costly problems.

• Ensure that any overgrown or overhanging trees are maintained - the most common damage that we see aside from roof leaks/repairs is fallen trees or branches during severe weather events. It is important that if these are noted on your Routine Inspection Reports that it is attended as this may impact any potential insurance claims in the future if you have failed to maintain the property and any potential risks.

Disaster Preparedness and Recovery: The Role of your Property Manager

A professional Property Manager plays a critical role during extreme weather events, ensuring landlords are supported and tenants are taken care of. Key benefits include:

• Swift response and emergency coordination: Property Managers can arrange urgent repairs, liaise with insurance companies, and manage contractor availability.
• Tenant communication and support: Keeping tenants informed and managing their concerns is essential during and after a disaster.
• Proactive risk management: Regular inspections and preventative maintenance reduce the risk of severe damage.
• Insurance claim assistance: A Property Manager can document damages, gather reports, and ensure insurance claims are processed efficiently.

Insurance and Emergency Planning

Landlords should review their insurance policies to ensure comprehensive protection. Key areas to check include:

• Flood and storm damage coverage
• Loss of rental income provisions
• Emergency accommodation options for tenants

Creating an emergency plan for tenants, including evacuation procedures and key contacts, can also help minimise disruptions.

Cyclone Alfred has highlighted the need for property investors to be proactive rather than reactive. By choosing flood-resilient properties, maintaining adequate insurance, and investing in weather-resistant upgrades, landlords can better protect their assets and rental income. Additionally, having a professional Property Manager in place can make a significant difference in handling disaster recovery efficiently.

For expert guidance on securing resilient investments and ensuring your property is well-managed during extreme weather, CBS Property Group is here to help. Contact us to learn how we can safeguard your property portfolio against future challenges.