As a rental property owner in Heber Springs, it’s pivotal to understand your responsibilities as regards to major storms and natural disasters that can produce extensive damage. This incorporates discovering 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 clearly and only the property owner’s responsibility. In truth though, both renters and rental property owners have liabilities relative to property damage. Knowing these liabilities is a significant part of being prepared for and recovering from misfortune.
As an illustration, 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, in this way, destroys a vehicle belonging to a resident, whose responsibility is it to cover the cost of repairs? Such being the case, paying for the damage is not your responsibility. As a matter of fact, the resident’s auto or renter’s insurance should cover the cost of repairing 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 occasionally. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to safeguard 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 determining and covering the expenses related to the repair work required to restore the property to a habitable condition.
But pay attention to this, the resident’s personal property, involving 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 suitably returned to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have more than ample renter’s insurance to cover needing alternative accommodations, for a short time, and for protection of their personal belongings in case of damage or loss. Pushing 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 key to prioritize disaster preparedness. Prospective disasters can unquestionably impact your rental properties and tenants. To completely make sure of the safety and security of your properties, seriously consider executing an exhaustive property risk assessment, possessing ample insurance coverage, and doing preventative measures, that is to say 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 crucial steps. Properly establishing protocols for securing the property also contributes to proactive disaster preparedness, essentially safeguarding your rental properties and the well-being of your tenants, when all is said and done.
At Real Property Management Delta, we are surely committed to help Heber Springs rental property owners like you navigate the troubles of natural disasters and other weather-related incidents. Contact us online or call us at 501-404-0674 today to ascertain more on the matter of how we can provide you with the appropriate guidance and support you would like.
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.
