As a rental property owner in Bonita Springs, it’s salient to understand your responsibilities given that there are major storms and natural disasters waiting to happen that can cause extensive damage. This encompasses knowing exactly 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 entirely the property owner’s responsibility. But as a matter of fact, both renters and rental property owners have liabilities as far as concerns property damage. Distinguishing these liabilities is a major part of being prepared for and recovering from misfortune.
As case in point, most 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 smashes a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? In this situation, paying for the damage is not your responsibility. In truth, the resident’s auto or renter’s insurance should cover the cost of fixing up 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 now and then. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to guarantee that the living conditions of the property are safe and habitable for the tenants. Besides that, the property owner is, in addition, financially responsible for sorting and covering the expenses related to the repair work required to restore the property to a habitable state.
Having said that, the resident’s personal property, for instance vehicles, the cost of transportation originating from an evacuation, lodging, food, and other expenses are all the resident’s responsibility. As long as the property is aptly repaired to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have sufficient renter’s insurance to cover, for a moment, needing alternative accommodations and to suitably protect their personal belongings in case of damage or loss. Prompting your tenants to do so may save you both a great deal of added headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is pertinent to prioritize disaster preparedness. Probable disasters can exceedingly impact your rental properties and tenants. To ascertain the safety and security of your properties, contemplate carrying out an exhaustive property risk assessment, buying the right insurance coverage, and working on preventative measures such as reinforcing vulnerable areas, securing loose objects, and putting up surge protectors.
Setting up a comprehensive disaster preparedness plan and carefully communicating evacuation routes and emergency contacts to your tenants are very important steps. Applying protocols for securing the property furthermore contribute to proper proactive disaster preparedness, effecively safeguarding your rental properties and the welfare of your tenants, at the end of the day.
At Real Property Management Qualified, we are keen to help Bonita Springs rental property owners like you navigate the problems of natural disasters and other weather-related incidents. Contact us online or call us at 239-344-9842 today to find out more regarding how we can endow you with the appropriate guidance and support you 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.
