Natural disasters can happen at any time and any place. Whether a tornado, flood, earthquake, or fire, natural disasters cause extensive property damage and displace thousands of people every year. When a natural disaster hits and damages a rental property, landholders have numerous responsibilities to their renters that go beyond tackling the accident to the rental home. The nature of these responsibilities depends on whether your Huntersville property is still habitable or not.
As a landholder, you already understand that all rental homes should be fit for human habitation. No matter where it is located, all rentals must provide a tenant with water, heat, electricity, and a sanitary and structurally safe building. While the exact regulations can vary, some regulations state that if the rental property do not meet these standards, a tenant is under no obligation to pay rent and may even cancel the lease. They could also be entitled to obtain their security deposit promptly in full.
When a rental home is damaged by a natural disaster in Huntersville, the amount of devastation should be assessed right away. To make sure that questions or concerns can be addressed in the future, it is a must to fully documented all damage. If the damage is minimal and the tenant will be displaced for only a duration of a few days or weeks, your duties as a landholder are to repair the wreckage as soon as possible. Your tenant may still be compelled to match the terms of the lease. Tenants could also be responsible for replacing or repairing any damage that has been done to their own personal property.
If the damage is extensive, or the restoration will take several months or more, it is the responsibility of the owner to determine how to handle the lease. If the home is uninhabitable, you may need to release your renter from the lease and return the security deposit in full. A tenants’ security deposit cannot be used to pay for damages caused by a natural disaster. Furthermore, if the natural disaster strikes close to the beginning of the month or immediately after a month’s rent has been paid, the landlord may have a responsibility to return that month’s rent to the renter.
Knowing how to respond after a natural disaster and understanding what steps to make as regards to the lease, rental payments, and security deposits is something the masters at Real Property Management Value have years of expertise with. With our group on your side, you can remain cool and collected in knowing that even when disaster hits, your Huntersville rental properties are in the greatest possible hands. Please contact us online or call us at 704-230-4074 for more information.