How to Deal with Property Damages as a Landlord

DIY Interior Design & Decor Dated:  Feb. 2, 2015
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Credit: yourdallashandyman.com

As a property owner there comes a time when you have to deal with property damage from the elements. Though a good property management can deal with a lot of different developmental services, a natural disaster or other damages that could be difficult to deal with. So whether it’s a damage that is caused due to fire, windstorm, or another condition it is always considered to be good when you start with the process as quick as possible. In case your property has been damaged by some sort of natural elements then given here are a few important steps that you could take in order to ensure that the situation is handled in all the best ways as you can.

Damage caused by the tenants: The moment you discover the damage grab your video camera taking videos and pictures of every inch of the property. This document is important and valuable enough in establishing the level of destruction for future case. Also make sure that the images taken by you have the time and date stamp on them.

Calling up the insurance company: The first thing you need to do after everything has calmed down is to call up the insurance company. The insurance company would then send their representatives in order to assess the damage and reasons behind damage. In case of fire, the fire fighters are called to the location in order to see what caused the situation. In case the fire was caused due to negligence on the part of the tenant then his or her insurance would end up paying more for the repairs. So make sure that each and every thing is inspected thoroughly as damages could occur in many different places covering a wider area.

Getting the repairs done: Once the insurance company is done with all their work, they would then hire a contractor in order to repair the damages in the building. And as these contractors have been hired as they offered a lower price, you would want to be involved in every repair that is being made. So do make sure everything that was inspected is addressed and things that are required are placed. The last thing you would like know and want here is future damages that would occur based on the poorly done repairs. Future concerns could end up costing you a lot more in the long run so do make sure that the building is in the similar shape as compared to what it was before the damage occurred. The same quality needs to be there though certain parties cut costs Inspite of their cheap repairs and replacements.

Deducting from the security deposit: Do not forget to follow the laws of your state especially when it comes to the refunding of tenants security deposit. While the cost repairs would be more when compared to the security deposits, you still require sending the list of repairs with the costs that is deducted from the security deposit of the tenant within the given number of days.

So if your property is damaged by someone or by the unforeseen conditions, then remember it’s always best not to linger the situation and move ahead without providing any care. Get the damages fixed as soon as possible minimizing the costs and stress, that repairs in your building could build up.

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