Protection is a very general term. It encompasses almost anything that talks about safety and security. And yes, because it is very broad, it is also as important in the world of real estate as it is in any other business area.
When talking about protection in the real estate business world, it means knowing your legal rights and responsibilities. Only by doing such will you be able to truly protect your business.
Here are the benefits of having such kind of protection for your business.
- In terms of insurance, you will be able to understand better and know more about what your deductibles are and what limits your coverage has. In addition, it will enlighten you about how your insurance provider treats customers and claims. If you already have this kind of information, then you can easily ask your insurance agent for a review of your coverage, both for business and personal.
- When you are updated about insurance information, you will know by now that the policies on insurance change very fast in all states in America. This is also very important because some changes may greatly impact your real estate business and the entire business in general both positively and negatively. In fact, there have already been 70 legislative bills that have affected rental housing in 2012 alone.
- You are able to avoid fines, fees and other charges when you are always updated about news and changes in the policies that govern your business.
- You are saving your business thousands of dollars from filing lawsuits and/or facing them. It has always been expensive going to court. And today, with all these changes in policies, it has become even more expensive.
- You are able to raise your company’s integrity and reliability. Your customers and clients may find you knowledgeable and worth every dime they pay. As a result, you will get more referrals to future customers.
- You can achieve some peace of mind. Knowing that you are protected, you get to sleep more soundly at night and never have to worry about tomorrow.
Protection is always a positive thing in everything. Make it a part of your business.
For example, The Dunes in Naples, Florida is a gated community with six large buildings. Their Property management is done in house. They community is the residence for many of Naples wealthiest people, all of whom are delighted with how the property is managed (whether it be renting out the properties or just general maintenance). They are truly a great example.