LOMA
A water management company worked with the team at NFE to secure a LOMA for their Helena, MT property. Clients have many reasons for seeking out NFE’s services, from lifting lender-mandated flood insurance via a letter of map amendment or reducing flood insurance policy premiums via insurance consulting; we are happy to help reduce expenses, boost NOI, and increase property value in whatever way we can!
In gorgeous Lahaina, HI, on the island of Maui, our team identified ≈ $73,000 in cost savings for a commercial property less than a stone's throw from the shores of the Pacific Ocean.
In this case study, a New Jersey-based Commercial Real Estate Developer partnered with National Flood Experts (NFE) to reduce annual flood premiums and increase the property value of their multifamily properties in NJ & NY. NFE successfully removed flood insurance mandates from 15 buildings, resulting in approximately $105,000 in annual cost savings and over $17.5 million in increased property value.
A 36-building mulitfamily property experienced a significant boost to NOI on Day 1 of ownership due to a rush review and LOMA success by the National Flood Experts team. Thanks to the LOMA, the new owners were not required to place lender-mandated flood insurance and excess flood insurance on the property - talk about major savings and red tape avoided!