CORONAVIRUS GUIDANCE FOR PROPERTY MANAGEMENT
Many states across the country are mandating non-essential workers to stay home to protect the public health and stop the spread of
COVID-19. Per CISA, apartment buildings, condominiums, mixed-use facilities, and self-storage may be exempt in accordance with your
state law. Should your state issue a stay at home order, the National Apartment Association is encouraging multifamily housing
owners to develop written statements that outline the properties necessary business operations. Franklin Street encourages you to work
with your local and state officials to determine the best course of action to provide the essential needs to keep your property operations
functioning as effectively as possible.
WHAT QUALIFIES AS AN ESSENTIAL SERVICE?
Before developing a written statement that outlines the company’s necessary business operations, multifamily housing owners must qualify
the status of what is needed to maintain healthy living standards in your communities. Make sure to focus on habitability concerns in
accordance with landlord and tenant law. The NAA recommends to take care of any problem that could result in a health risk of your
residents beyond COVID-19. Pay close attention to the definition of essential services in the area the property resides.
TAKING PRECAUTIONS
If you fall under a “Shelter in Place” order, make sure property managers take the appropriate precautions to keep residents and on-
site personnel safe. Examples would include limiting on-site staff, limit in-person transactions between staff and customers, suspend non-
essential maintenance and repairs, share staffing updates with residents, and contacting vendors to determine available emergency
maintenance needs if necessary.
NATIONAL APARTMENT ASSOCIATION-NAA
Franklin Street is actively paying attention to industry professionals that can provide information to help clients. The National
Apartment Association is a great resource for the Multifamily Housing Industry to use in these unprecedented times. Their website can be
found HERE.
WE ARE HERE TO HELP
We have already seen the COVID-19 outbreak cause significant economic impact for businesses in both the US and abroad. Although
first responders and hospitals are at the forefront of a likely exposure, it is easy to imagine contact occurring with an asymptomatic
infected person at school, work, hotel or similar type of insured’s commercial property. Franklin Street Insurance wishes that no one,
especially our clients, is impacted by this terrible virus, and that those that are, can fully recover quickly. With this bulletin we intended
to offer some guidance on the likely challenges and questions that our clients may have. Feel free to contact us with any questions
about current coverage or to further fortify your plan to deal best with this crisis. We are here to help you.
PLEASE NOTE: Coverage analysis must be based upon the wording of an insured’s specific policy(ies) and each situation is different,
potential coverage would depend on the actual loss or damage experienced by the insured.
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