New law creates voluntary preparedness standard for buildings.
Although the new law is voluntary, it could potentially become the legal standard of care in the real estate industry. Most importantly, the standard may allow for the insurance and credit-rating industries to look closely at a company's compliance with the NFPA 1600 standard, or any other DHS selected standard in evaluating its insurability and creditworthiness.
IREM will request its membership review and comment on the DHS regulation which will implement H.R. 1. IREM opposes mandatory certification for real estate owners and managers for a fee.
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|Comment:||New law creates voluntary preparedness standard for buildings.(insession)|
|Publication:||Journal of Property Management|
|Article Type:||Brief article|
|Date:||Jan 1, 2008|
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