Business Continuity Planning for Letting Agents

The Obvious

Scenario: The office has burnt down/flooded/been broken in to and all our data is lost.

It’s important to know your data is back up and available off site, should your main place of business be compromised.

It’s also wise to consider:
– an alternative place to trade from,
– how to redirect the telephones,
– how to communicate any issues to landlords and tenants.

The Not So Obvious

Scenario: A natural disaster has damaged a large number of properties on our books.

If you browse the properties you manage, you will probably find that they are all within a close proximity to each other, and your lettings office.

While this is convenient for everyone most of the time, it could leave you vulnerable in the event of a natural disaster.

For example, the great storm of 1987, which was famously unexpected by weather forecasters, left many properties with damage to fences, roofs, windows and worse.

While letting agents are insured for such events, realistically, how many are capable of quickly responding to these incidents, particularly when the trades people required will be in such high demand.

Therefore a prudent letting agent will have invested some time in making a business continuity plan that addresses questions such as:

– Who are our suppliers?
– How good is our relationship with our suppliers and is it formalised?
– Do we have alternative suppliers available, if we need extra capacity?
– How will we manage the increased calls from tenants?
– How will we staff the office?

More Information

If you require some help producing a business continuity plan, call our consultants on 020 3432 2854

See also: ISO 22301 the Business Continuity Management System.

entry120402-115308