Your Fire & Life Safety System serves as a vital part of a commercial real estate building’s readiness plan. Code, training and equipment are all integral to ensuring that the system will function properly when a crisis occurs.
Make sure you don’t make these mistakes that could end up costing you way more in the long run.
1. Continuing to Band-Aid an outdated system, rather than replace it.
2. Missing the Big Picture: Have all the little one-off improvements and renovations necessitated a change to the entire system?
3. Not implementing building and portfolio-wide Fire and Life Safety standards.
4. Passing the buck to service providers.
5. Thinking you can catch up later when the market turns around. Codes change. Tenant demands change. New technology is introduced. Don’t fall behind your competition!
6. Not doing an Assessment of Condition of your Fire & Life Safety systems at each building.
7. Diving into a Fire & Life Safety overhaul without first outlining and prioritizing baseline requirements and goals.
8. Choosing the wrong person or team to spearhead the project.
9. Failing to get a copy of the final report into the hands of all appropriate building representatives
10. Neglecting to utilize technology in the process.
For more tips and tools to ensure your risk & liability procedures are helping you reduce claims and resulting losses, prepare for unexpected emergencies, and safeguard occupants and staff, check out our CRE Guide to Managing Operational Risk here.