As a rental property owner in Winooski, it’s relevant to understand your responsibilities in the eventuality of major storms and natural disasters happening that can give rise to extensive damage. This encompasses taking in 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 absolutely and singularly the property owner’s responsibility. Actually, both renters and rental property owners have liabilities with respect to property damage. Considering and knowing well these liabilities is a principal part of being prepared for and recovering from misfortune.
To cite an instance, 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? In this instance, paying for the damage is not your responsibility. In actual fact, 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 once in a while. In the unfortunate event of a natural disaster damaging a rental property, it is the legal obligation of the property owner to establish that the living conditions of the property are safe and habitable for the tenants. Over and above that, the property owner is also financially responsible for distinguishing and covering the expenses related to the repair work required to restore the property to a habitable state.
That being said, the resident’s personal property, like vehicles, the cost of transportation resulting from an evacuation, lodging, food, and other expenses are all the resident’s responsibility. As long as the property is aptly returned to a habitable state within a short period, the resident may still be responsible for the lease terms. They must have more than sufficient renter’s insurance to cover, for a period of time, needing alternative accommodations and to adequately protect their personal belongings in case of damage or loss. Persuading your tenants to do so may save you both a great deal of additional headache in the event of a disaster.
How to stay prepared as a landlord
As a landlord, it is critical to prioritize disaster preparedness. Most likely disasters can vastly impact your rental properties and tenants. To see to the safety and security of your properties, deem working on a total property risk assessment, obtaining sufficient insurance coverage, and undertaking preventative measures, in particular reinforcing vulnerable areas, securing loose objects, and setting up surge protectors.
Producing a comprehensive disaster preparedness plan and properly communicating evacuation routes and emergency contacts to your tenants are salient steps you can follow. Instituting protocols for securing the property likewise greatly contributes to proactive disaster preparedness, and when all is said and done, properly safeguarding your rental properties and the total well-being of your tenants.
At Real Property Management Sterling, we are determined to help Winooski rental property owners like you navigate the troubles of natural disasters and other weather-related incidents. Contact us online or call us at 802-861-6468 today to assimilate more about how we can give you the appropriate guidance and support you long 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.
