As a rental property owner in Pillager, it’s critical to understand your responsibilities in the occurence of major storms and natural disasters that can give rise to extensive damage. This encompasses figuring out how to handle the potential damage or havoc on your residents’ personal property.
Who is responsible for damage resulting from a disaster?
It’s a common misconception that any damage caused by a storm or natural disaster is simply the property owner’s responsibility. In actuality, both renters and rental property owners have liabilities for property damage. Understanding these liabilities is a relevant part of being prepared for and recovering from misfortune.
Majority of rental properties feature one or more large trees around the home’s exterior. If a tree on your rental property falls down during a storm and ruins a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? In this instance, paying for the damage is not your responsibility. In reality, the resident’s auto or renter’s insurance should cover the cost of restoring the resident’s car.
What about other types of damage caused by a natural disaster?
Floods, wildfires, tornados, and more are all potential events that rental property owners and residents may face once in a while. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to establish that the living conditions of the property are safe and habitable for the tenants. At the same time, the property owner is, in addition, financially responsible for classifying and covering the expenses related to the repair work required to restore the property to a habitable state.
But on the other hand, the resident’s personal property, namely vehicles, the cost of transportation resulting from an evacuation, lodging, food, and other expenses are all the resident’s responsibility. As long as the property is returned to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have appropriate renter’s insurance to cover, for a brief time, needing alternative accommodations and to cover their personal belongings in case of damage or loss. Influencing your tenants to do so may save you both an extra headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is substantial to prioritize disaster preparedness. Likely disasters can naturally and considerably impact your rental properties and tenants. To see to the safety and security of your properties, deem undertaking an all-inclusive property risk assessment, taking suitable and ample insurance coverage, and taking on preventative measures in particular reinforcing vulnerable areas, securing loose objects, and assimilating surge protectors.
Developing a comprehensive disaster preparedness plan and explicitly communicating evacuation routes and emergency contacts to your tenants are principal steps. Bringing about protocols for securing the property additionally contributes to appropriate proactive disaster preparedness, substantially safeguarding your rental properties and the welfare of your tenants.
At Real Property Management Deluxe, we are determined to help Pillager rental property owners like you navigate the challenges and difficulties of natural disasters and other weather-related incidents. Contact us online or give us a call at 218-454-7962 today to correctly learn more about how we can grant you the proper guidance and support you hope and are searching for.
Originally Published on October 5, 2018
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