There are water damage repairs to be made at my rental condo in Panorama City. When I blog about what happens in real life, the goal is to help someone learn from my experience. And this blog is exactly that. There are two points to drive home. One, is to have the best insurance you can have, always. Two, when damage occurs, fix it right and fix it quickly.
When you need it, you will be so incredibly thankful that you have it. If you don't, it could mean losing a lot of money on your investment. In my case, the unit above me had a major kitchen leak and it flooded into my unit. And as of the writing of this blog, the insurance company of the upstairs unit is NOT covering my unit. And that is frustrating, infuriating and down right unethical. When you are dealing with water damage, there is a whole host of problems that start developing AFTER the fact. Mainly, mold, more damage, and electrical shorts. And I'm sure a few other areas that I haven't had to deal with yet.
Thankfully, if the insurance company for the unit upstairs continues to drag their feet, I always have my homeowner's insurance to put in a claim. Thank you, Debra, for giving me the best insurance!
Fix it Right and Fix it Quickly
In the next few days, once the dehumidifiers have dried what they can, we will start repairing and replacing drywall, flooring, carpet, and electrical. Hopefully, we can avoid mold issues and further damage. Why? Because I know that if I wait, it could get worse. And my tenant shouldn't be inconvenienced anymore than she has been.
The Moral of the Story
Even though, in this case, the insurance company for the upstairs unit is not cooperating and the damage is absolutely their responsibility, I will still take care of my unit properly. And it's because I have great homeowner's insurance (pays claims, works fast, and gets it done!), I won't have to bear too much of the burden to do the necessary repairs.
All the best to you who own rentals and who want to manage them properly!