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Renova Renovation Joins the War on Hail and Highlights Market Risks Emerging for Institutional Quality Multifamily Assets


Dallas, TX, December 28, 2012 --(PR.com)-- Renova Renovation, a Dallas-based company specializing in roofing, renovation and restoration for multifamily and commercial assets announced today that it has joined the “War on Hail”. The company also spotlighted an emerging trend where investors and lenders are becoming more savvy in identifying and documenting hail damage to multifamily assets.

Statistics show that hailstorms are the most damaging weather events in Texas. Last month, the Texas Department of Insurance hosted the first ever hail symposium spotlighting this natural disaster. More than 300 professionals participated in the War on Hail symposium, talking about the short-term and long-lasting costs from the destructive hail storms.

“It is a partnership not only between the consumers, but the regulators, the weather folks, the roofing industry, the insurance industry,” said Jenny Pye, Director of Quality Assurance

A Renova Renovation spokesperson noted “In the last few years, we’ve seen a huge surge in the amount of hail damage to multifamily and commercial assets in the region. We have worked closely with institutional investors, owners and managers to provide a Proactive Asset Management solution that highlights proper planning and a quick response to emergency and catastrophe situations. The goal is stabilizing assets, mitigating risks and limiting disruptions and losses to revenue. With the War on Hail, we have beefed-up our proactive asset management program to work more closely with clients to provide quality, reliability, accountability and higher standards of communication and follow-up. This results in higher customer satisfaction rates and a stronger emphasis on our clients ROI.”

“We're sort of in hail alley here,” said the National Weather Service’s Dr. Steve Lyons. “Part of the problem is, you've got this huge metropolis out here, and there is very little area to not be damaged.”

Hail damage is also the source of increased scrutiny by buyers and lenders and a source of potential risk for investors. “The executive team here at Renova consists of professionals with hands-on institutional asset management experience including direct operational and financial oversight responsibility for institutional assets and portfolios. Because of this experience, we are seeing new market risks in regards to how hail damage is impacting the market. While the multifamily sector in particular has performed exceptionally well from an investment perspective, we note that hail damage, coupled with the increased activity in acquisitions, divestitures and refinance has resulted in more thorough and detailed inspections from buyers and lenders. Even with long-term investors who have had the same lenders, we are seeing that these lenders have become much more savvy and aggressive in their regular inspections. Regular inspections are being done with greater scrutiny and they are turning up documented damage to roofs, carports, outdoor structures, window screens, siding, HVAC, and even window beading. Where this may have been previously overlooked, lenders are now pinpointing this damage and requiring that it be addressed,” a Renova spokesperson stated.

Renova Proactive Asset Management Program
The Renova PAM program provides clients with first response in emergency and catastrophe situations with a goal towards stabilizing assets, mitigating risks and limiting disruptions and losses to revenue. Renova’s institutional asset management experience has also been leveraged to go one step further in actively aligning our clients near to long-term objectives with their specific operational and financial considerations. The Proactive Asset Management program allows us to work closely together with clients to achieve their goals, add value to their assets and to increase the Net Operating Income and ultimately the ROI.”

Renova’s War on Hail and Proactive Asset Management Programs:
· Maximize life expectancy, lower costs, increase ROI
· Asset(s) & specifications are registered for quick assessments/repairs
· Ensure the physical integrity of assets
· Mitigate risk/liability associated w/damaged property
· Guaranteed first response in catastrophic events
· Track major storms and monitor assets
· Educational series for asset managers
· Minimize potential losses to revenue
· Limit disruptions to business operations

About Renova Renovation – Multifamily + Commercial
Renova Renovation is a Dallas, Texas based company that specializes in roofing, renovation, restoration and construction for institutional quality multifamily and commercial assets. The company is led by an experienced team with deep industry knowledge and a proven-track record of success.

Renova has Become a Multifamily and Commercial Leader -Providing:
· Higher Degrees of Quality, Reliability + Accountability
· Higher Standards of Communication + Follow-up
· Higher Customer Satisfaction Rates
· Higher Emphasis on Your ROI

Industry Pioneer
Renova is the Industry Pioneer of a value added approach that offers quality workmanship and innovative products and services that have been designed to provide Optimal Value and the Best Possible ROI. It’s the very reason Renova has risen to become one of the fastest-growing roofing, renovation and restoration companies in the nation.

Renova’s Core Business is:

• Advanced Multifamily and Commercial Roofing & Re-roofing
• Value-Add Rehab Strategies
• Exterior and Interior Renovation + Rehab
• Water, Fire + Storm Damage Restoration
• Catastrophic Emergency/First Response Program – Guaranteed Response
• Insurance Claim Specialists
• Proactive Asset Management Programs
• Strategic Advisory & Due Diligence

Multifamily and Commercial Clients
Our clients include multi-family apartment groups, leading real estate asset managers and investment trusts, churches, contractors, small business owners and premium residential owners.

Quality Workmanship & Value Engineering
Renova provides partners and clients with quality workmanship and innovative products and services that have been designed to provide optimum value and the best possible return on investment. We do this with the utmost integrity and a commitment to excellence.

Full Warranty
Renova provides certified installation, a product warranty and a comprehensive warranty on our workmanship. In addition, Renova Renovation offers clients a Lifetime Warranty Program.

Safety, Risk Management and – OSHA Complaint
We instill safety and quality control throughout the deepest layers of our company – these ideals are at the heart and soul of our corporate culture. Renova is OSHA complaint, and fully licensed and insured for the work we undertake.

To find out why Renova has become an industry leader and to see how we can add value to your assets, please contact us for further information:

Renova Renovation
2633 McKinney Ave 130 Suite 222
Dallas Texas, 75204
Tel. 888 777 1156
info@RenovaRenovation.com
www.RenovaRenovation
Contact Information
Renova Renovation
David Vogelsang
888.777.1156
Contact
www.renovarenovation.com
Multifamily and Commercial Specialists

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