What Are the Biggest Unknown Risks in Real Estate?

On this episode of Weaver Beyond the Numbers, Real Estate Edition, Howard Altshuler, Partner-in-Charge, Real Estate Services for Weaver and Rob Nowak, Partner, Tax Services for Weaver were joined by Andy Freundlich, Partner, Assurance Services for Weaver for a lively discussion on risk assessment and management in real estate.

“This last year has been amazing for lots of reasons. We think about how unprepared we are for everything,” Freundlich said.

Certain risks are known when it comes to things like deferred maintenance or entitlement risk, but building managers, asset managers, developers and tenants also face unknown risks.

How do real estate stakeholders prepare for the unknown? What are the what-ifs that haven’t been accounted for, and how do we prepare for what comes next?

Altshuler suggests that complacency can play a part in not being properly prepared.

“Instead of thinking, ‘That could never happen,’ think ‘Well, that could happen, so how do we deal with it? Is it feasible?’” he said. “Is there enough benefit in the cost of preparing for risk? How do we assess the likelihood of risk?”

Planning for risks is an essential component of real estate, and having an internal committee brainstorming the “what-ifs” and how to respond to them is key to staying on top of risk management and protecting property from the unknown. That unknown could be anything from a cyberattack to a blackout or even a riot.

According to Freundlich, people are “always thinking about risk management.

“We’re thinking about insurance. We’re thinking about how we can be healthier. With risk management, you need a good group of advisors to deal with these issues.”

Looking at different scenarios to see what weaknesses there may be in risk management systems is an important aspect of the real estate business, and getting advice from experts is always a good place to begin.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!



Robotic pallet movers
Automation in Action: Robotic Pallet Movers are Enhancing Efficiency and Transforming the Modern Warehouse
April 18, 2024

The world of logistics is undergoing a major transformation, all thanks to robotic picking and stacking tech. These robotic pallet movers automate the stacking of products, thereby enhancing efficiency and accuracy in warehouses and distribution centers. As e-commerce continues to grow, the demand for quicker and more efficient operations is pushing the adoption of […]

Read More
extended-stay hotel
Extended-Stay Hotels Must Analyze Markets & Embrace Flexible Options for Sustained Growth
April 18, 2024

The extended stay hotel market, once riding high on unprecedented growth, has recently faced a dip in occupancy rates. This downturn marks a significant shift from the robust expansion observed over the past years, driven by a surge in guests who preferred longer stays due to various economic and lifestyle factors. Despite this, the […]

Read More
live events technology
High-Quality Live Events Technology is the Secret Weapon for Unforgettable Experiences
April 18, 2024

The fusion of technology and creativity is setting new standards for audience engagement and event personalization at live events. Live events technology such as augmented and virtual reality are now at the forefront, offering immersive experiences that bridge the gap between the digital and physical worlds. AI and machine learning are also revolutionizing event […]

Read More
Power over Ethernet
Power Over Ethernet Revolutionizes Home Automation by Simplifying Installations and Enhancing Connectivity.
April 18, 2024

Homes become increasingly connected and Power over Ethernet (PoE) emerges as a transformative technology in residential automation and entertainment systems. By allowing electrical power and data signals to travel over a single Ethernet cable, PoE offers a streamlined approach to powering devices like smart speakers, security systems, and lighting, all while reducing cable clutter​. […]

Read More