When something goes majorly wrong with maintenance such as a flood. Does your company give a rent credit?

When something goes majorly wrong with maintenance in an apartment or building such as a flood. Does your company give a rent credit?

When is it justified vs not justified? What do you say to a resident that is justified in their frustration but cannot understand why we can’t give a rental credit for pain and suffering when their apartment was back to habitable status within 12 hours of the event happening? Some repairs still need to be made but they are are cosmetic.

Need some new tactics here but we can’t keep opening up the “rent credit” door.

Edit: I have the renters insurance conversation any time this comes up and at lease signing. We highly recommend but do not require renters insurance.

The only time I give a rent credit is if we as management drop the ball. Otherwise, things happen and we do our best to make them right in a reasonable time frame.

had that happen with one of mine, within ours we had them taken care of new carpet and pad, saved all (or most of the furniture ) ..offered a renovated apt...they said no. gave them a gift card (200) they still were not happy. The flood was a no fault...a shit happens thing. to this day they still do not have renters insurance and feel we owe them. no rent credit given here.

What do you mean “majorly wrong”? Did you guys break the pipe? Can you elaborate, please?

flash flooding in Detroit. It’s a garden level apartment. It’s flooded before because of wipes in the pipes and they got a rent credit. But we have done preventative since then and snaked 3 days before the flood. So we know our pipes were clear.

Then I would say no to the rent credit. I would do a flyer and tell people what is and what is not allowed in toilets. Flushable wipes are not safe for toilets. It looks as though this is something that residents have caused. That’s why they have insurance, and you took care of the matter in a reasonable time.

Yes we send out the wipe flier every 3 months when we do our preventive maintenance and find more of them in the pipes.

Then you need to tell the residents that if you need to call the plumber out again for their carelessness that you are going to bill them for the repair. Don’t give them anymore rent credits

Rentes insurance is what Id refer residents to seek financial accommodations. You cannot always claim the responsibility if something goes wrong that is out of your control (flood, fire etc). Residents are required to give management reasonable time to repair any issues and most definitely longer than 12 hrs. If something is a repeat incident (roof leaks) that have been an issue for on-going several months, I’d consider letting them out of lease or give them a gift card for “customer service” so that it won’t book to your concession.

Renters insurance is a must!

Renters Insurance, but if the property is a fault and responsible a one time credit will be issued.

Absolutely not. No more than a mortgage company gives a credit for the same reason.

There’s communities still out there that don’t require renters insurance?? Suggest you change that policy ASAP. I’m sure there’s an insurance agent nearby who would love to help out your residents, and provide them information.

As for the party you are asking about, 12 hours is a quick resolution. As a customer service gesture, you could give a small gift card & say dinner’s on us, but other than that, give your team kudos for resolving the issue so quickly.

If you have an affordable component, such as LIHTC, Section 8, etc. Unfortunately, you can not legally require renter's insurance

Here in Virginia, section 8 is covered under source of funds in Fair Housing- in that sense, a section 8 renter at a conventional community that requires insurance would not be exempt from their requirement.
The OP didn’t mention if she was at a full LIHTC property, I’m not familIar with the insurance rules for them

Project Based Section 8 and LIHTC we cannot require it. Although regulation needs to start because to many damages by resident neglect/failure to report is falling on the owners.

Wow!! Don’t they see that it could help the resident too, in the event of a flood or a fire? If you don’t require it, most won’t get it. I’m not for big government regulations, but a private owner should have every right to require it. Thank you for the info, I’m just stunned.

No..we require residents to have renter’s insurance

What is the price or cost of satisfaction ? If you get a lease renewal for two years, is one month credit a good investment ?

There is an art to negotiation. What is valuable important to other party. If they are leaving anyway, sure, no concession. If you can leverage the credit and get an extension, is that valuable to you.

This situation is covered in our lease.

That’s not a thing. If you fixed that quickly, you’re a superstar

Haha thanks I needed the encouragement!

Consider a Renters Insurance policy instead of a rent credit. It would protect them going forward (and you) without them fully getting compensation for something not under your control.

I have a resident in an apartment that has a mystery leak. I will be giving her a per diem for each day she is out of her apartment. She has filed an insurance claim through her renter's insurance so luckily they are paying her hotel and replacement costs of her personal property. Unfortunately insurance is dragging their feet so each day the leak gets worse and worse so it will be 6-7 days from time leak occurred until I can get a plumber in there.