As a rental property owner in Weymouth, it’s integral to understand your responsibilities if there are going to be major storms and natural disasters that can contribute to extensive damage. This encompass recognizing how to handle the potential damage or destruction and 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 certainly and wholly the property owner’s responsibility. But it is a matter of fact that both renters and rental property owners have liabilities concerning property damage. Determining these liabilities is a substantial part of being prepared for and recovering from misfortune.
In particular, 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 ruins a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? In this condition, paying for the damage is not your responsibility. Actually, 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 every 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 really make sure that the living conditions of the property are safe and habitable for the tenants. Not only that, the property owner is likewise financially responsible for distinguishing 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 such as vehicles, the cost of transportation as a result of 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 more than adequate renter’s insurance to cover, for a short time, needing alternative accommodations and suitably protect their personal belongings in case of damage or loss. Getting your tenants to do so may easily save you both an extra headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is necessary to prioritize disaster preparedness. Looming disasters can vitally impact your rental properties and tenants. To warrant the safety and security of your properties, weigh doing an extensive property risk assessment, obtaining correct insurance coverage, and applying preventative measures for example reinforcing vulnerable areas, securing loose objects, and having surge protectors in place.
Establishing a comprehensive disaster preparedness plan and competently communicating evacuation routes and emergency contacts to your tenants are proven successful steps to take. Putting up protocols for securing the property also greatly contributes to proactive disaster preparedness, properly safeguarding your rental properties and the well-being of your tenants in the end.
At Real Property Management Associates, we are absolutely dedicated to helping Weymouth rental property owners like you navigate the hardships of natural disasters and other weather-related incidents. Contact us online or call us at 508-509-4485 today to know more with regards to how we can lend you the correct guidance and support you are looking to have.
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.
