2. Home
  3. Discuss!
  4. Multifamily Insiders Discussions
  5. The Front Lines
  6. What are the options when a tenant causes a catastrophic loss?

What are the options when a tenant causes a catastrophic loss?

Laura Renaldo
  • Posts: 15
  • Thank you received: 3
1 year 2 months ago #641773 by Laura Renaldo
What are the options when a tenant causes a catastrophic loss? was created by Laura Renaldo
What are the options when a tenant causes a catastrophic loss? Is there any option to go after them for damages?
1 year 2 months ago #641773 by Laura Renaldo
Topic Author
Jennifer Mckinnis
1 year 2 months ago #641774 by Jennifer Mckinnis
Replied by Jennifer Mckinnis on topic Re: What are the options when a tenant causes a catastrophic loss?
Renters insurance?
1 year 2 months ago #641774 by Jennifer Mckinnis
Laura Renaldo
  • Posts: 15
  • Thank you received: 3
1 year 2 months ago #641775 by Laura Renaldo
Replied by Laura Renaldo on topic Re: What are the options when a tenant causes a catastrophic loss?
Lapsed in this case. Wondering if this is something that they cover though
1 year 2 months ago #641775 by Laura Renaldo
Mike Powers
  • Posts: 8
  • Thank you received: 1
1 year 2 months ago #641776 by Mike Powers
Replied by Mike Powers on topic Re: What are the options when a tenant causes a catastrophic loss?
You or your insurance carrier can sue anyone for liability tied to negligence. Small claims for small stuff, general tort claim for bigger.
Whether you collect or not who knows.
Say a resident left water running and flooded units. They were negligent. Your insurance would or should pursue recovery.
A kitchen fire might be harder to prove negligence.
1 year 2 months ago #641776 by Mike Powers
Susanne Chandler
  • Posts: 5
  • Thank you received: 0
1 year 2 months ago #641777 by Susanne Chandler
Replied by Susanne Chandler on topic Re: What are the options when a tenant causes a catastrophic loss?
Once you file an insurance claim, the insurance company goes after the offender.
The property can only go after the deductible.
1 year 2 months ago #641777 by Susanne Chandler
Grace Law
  • Posts: 18
  • Thank you received: 3
1 year 2 months ago #641778 by Grace Law
Replied by Grace Law on topic Re: What are the options when a tenant causes a catastrophic loss?
We require renters insurance that lists us as an additional insured. If that insurance is cancelled, we put them on a master plan with coverage just to protect our property, no personal
coverage. Premium is added to monthly rent.
👍: Alison Hansford
1 year 2 months ago #641778 by Grace Law