As a rental property owner in Bryan-College Station, it’s imperative to understand your responsibilities in cases of major storms and natural disasters that can induce extensive damage. This incorporates comprehending how to handle the potential damage or ruin of 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, without question, the property owner’s responsibility. But in point of fact, both renters and rental property owners have liabilities for property damage. Learning these liabilities is a critical part of being prepared for and recovering from misfortune.
For example, some 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 actually destroys a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? In such a situation, paying for the damage is not your responsibility. In truth, the resident’s auto or renter’s insurance should cover the cost of making the resident’s car as good as new.
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 now and again. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to always make sure that the living conditions of the property are safe and habitable for the tenants. Having said that, the property owner is additionally financially responsible for sorting out and covering the expenses related to the repair work required to restore the property to a habitable state.
On the flip side, the resident’s personal property, particularly vehicles, the cost of transportation on grounds of 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 adequate renter’s insurance to cover fleetingly needing alternative accommodations and appropriately protect their personal belongings in case of damage or loss. Pushing 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 integral to prioritize disaster preparedness. Likely disasters can massively impact your rental properties and tenants. To ensure the safety and security of your properties, take into consideration bringing about a thorough property risk assessment, getting acceptable insurance coverage, and bringing about preventative measures like reinforcing vulnerable areas, securing loose objects, and integrating surge protectors.
Putting together a comprehensive disaster preparedness plan and clearly communicating evacuation routes and emergency contacts to your tenants are important steps. Producing protocols for securing the property furthermore contributes to suitable proactive disaster preparedness, practically safeguarding your rental properties and the benefit of your tenants.
At Real Property Management Apex, we are actively engaged in helping Bryan-College Station rental property owners like you navigate the difficulties of natural disasters and other weather-related incidents. Contact us online or give us a call at 254-732-1599 today to discover more relating to how we can extend you the proper guidance and support you would like and are searching for.
Originally Published on October 5, 2018
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