As a rental property owner in Lynbrook, it’s primal to understand your responsibilities given that there are major storms and natural disasters that can set in motion extensive damages. This takes into consideration determining how to handle the potential damage or destruction 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 definitely and wholly the property owner’s responsibility. In actual fact, both renters and rental property owners have liabilities on the subject of property damage. Ascertaining these liabilities is an integral part of being prepared for and recovering from misfortune.
Like for example, several 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? When this occurs, paying for the damage is not your responsibility. Innstead, the resident’s auto or renter’s insurance should cover the cost of 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 some point in time. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to always ensure that the living conditions of the property are safe and habitable for the tenants. Besides that, the property owner is likewise financially responsible for determining and covering the expenses related to the repair work required to restore the property to a habitable condition.
But, conversely, the resident’s personal property, for example vehicles, the cost of transportation owing to an evacuation, lodging, food, and other expenses are all the resident’s responsibility. As long as the property is adequately restored to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have a good enough renter’s insurance to cover, for a brief time, needing alternative accommodations and to keep their personal belongings protected in case of damage or loss. Inspiring your tenants to do so may save you both additional headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is essential to prioritize disaster preparedness. Imminent disasters can significantly impact your rental properties and tenants. To give importance to the safety and security of your properties, ponder on completing a total property risk assessment, maintaining the right insurance coverage, and realizing preventative measures, for example reinforcing vulnerable areas, securing loose objects, and putting surge protectors in place.
Setting up a comprehensive disaster preparedness plan and clearly communicating evacuation routes and emergency contacts to your tenants are effective steps to take. Implementing protocols for securing the property supplementarily contributes to proactive disaster preparedness, and in the long run, safeguarding your rental properties and the security of your tenants.
At Real Property Management Innovation, we are eager to help Lynbrook rental property owners like you navigate the tough challenges of natural disasters and other weather-related incidents. Contact us online or call us at 516-570-9275 today to discover more as to how we can offer you the competent guide and support you yearn for.
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