As a rental property owner in Fruita, it’s basic to understand your responsibilities on the chance of major storms and natural disasters happening that can result in extensive damage. This includes figuring out how to handle the potential damage or loss 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 particularly and singularly the property owner’s responsibility. But in fact, both renters and rental property owners have liabilities in connection with property damage. Discovering these liabilities is a pivotal part of being prepared for and recovering from misfortune.
As an example, many different 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 certainty destroys a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? Should this happen, paying for the damage is not your responsibility. But instead, the resident’s auto or renter’s insurance should cover the cost of totally fixing 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 at certain times. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to secure that the living conditions of the property are safe and habitable for the tenants. Aside from that, the property owner is also financially responsible for sorting out and covering the expenses related to the repair work required to restore the property to a habitable state.
But be aware, the resident’s personal property, such as vehicles, the cost of transportation through an evacuation, lodging, food, and other expenses are all the resident’s responsibility. As long as the property is nicely repaired to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have extensive renter’s insurance to cover, for a short time, needing alternative accommodations and appropriate protection for their personal belongings in case of damage or loss. Pressing your tenants to do so may save you both any more headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is salient to prioritize disaster preparedness. Probable disasters can undeniably impact your rental properties and tenants. In order to always make certain of the safety and security of your properties, mull over completing a comprehensive property risk assessment, having enough insurance coverage, and complying with preventative measures like reinforcing vulnerable areas, securing loose objects, and incorporating surge protectors.
Formulating a comprehensive disaster preparedness plan and effectively communicating evacuation routes and emergency contacts to your tenants are vital steps. Bringing about protocols for securing the property moreover contributes to correct proactive disaster preparedness, successfully safeguarding your rental properties and the happiness as well as welfare of your tenants at the end of the day.
At Real Property Management Now, we are unflinching in our commitment to help Fruita rental property owners like you navigate the issues of natural disasters and other weather-related incidents. Contact us online or call us at 970-314-7123 today to hear more as regards how we can give you the proper guidance and support you like and are looking for.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
