Natural catastrophes are regrettable events that have an impact on both landlords and tenants. Many landlords were left wondering if there was anything they could have done both before and after the devastating and long-lasting Hurricane Florence in Cape Verde. But there are other threats to our rental and residential homes than hurricanes. Here is what every landlord should know about earthquakes, wildfires, disaster preparedness, minimizing the effects of calamities, and maximizing the lease.
Determine any possible dangers
You should be aware of the kinds of natural disasters that could impact your properties and tenants if you are a landlord renting out properties in the area. This makes your plan of action more focused in each situation. These five actions on the landlord’s end, however, are universal regardless of the type of disaster: inform your tenants about potential disasters, make your rental safer by removing overgrown trees and installing hurricane blinds, tell tenants to heed evacuation orders, evaluate the damage, and file insurance claims.
Earthquakes
Even though earthquakes in the earth’s crust are unpredictable, the landlord or tenants should turn off the gas and water supply valves and the electricity mains switch in the event of one or more earthquakes. Tenants should be told to lock up big items inside and outside the house to prevent them from moving or falling. Following the earthquake, the landlord must determine whether the property is structurally sound and devise a plan for repairs.
Hurricane
The first step in the preparation process is pruning any trees that are damaged or near the structure. Next, to ensure that the gutters can direct stormwater to the drains, make sure they are securely fastened to the building and clear of debris. Bring all lightweight items inside, including trash cans, gardening furniture, and equipment. A safe room for the residents should be added if your property is located in a “tornado alley,” an area that frequently experiences these destructive but brief vortices.
Floods
Floods can happen at any time of the year and are perhaps the most frequent natural disaster. Flooding is usually caused by excessive precipitation, although it can also happen as a result of snowmelt and hurricanes. Although there isn’t much a landlord can do to stop flooding, be sure your insurance covers it. Your neighborhood emergency management organization can also provide helpful guidance on this topic. Tenants should be told to prepare an emergency supply pack in addition to adhering to flood warnings, both from the crisis management center and “nature’s own,” such as flash floods, since transportation and energy services are the first to be affected by flooding.
Procedures for insurance and communication
In order to resolve issues brought on by natural calamities, excellent communication with your tenants is essential. It’s crucial to file insurance claims as soon as possible, even if local regulations will have varying requirements for your duties as a landlord. Your insurance policy will determine the kind and extent of help you receive. Consult an insurance expert if you’re unsure what coverage is appropriate for you, and if necessary, upgrade to better house insurance that is specifically designed to safeguard your rental property. In the event that your building becomes unsafe for renters, some packages even cover your loss of rent for a maximum of 12 months.
Evaluating the harm
The landlord must carefully evaluate the premises with a building inspector before allowing tenants to return to the building. These experts will inspect for risks and structural problems, including roof, chimney, and foundation flaws; loose or broken electricity lines; gas leaks; and water leaks that are not visible from the outside. Cut off the electricity and water supply until the root cause is found if you discover standing water or any damage to the pipes.
Obtain a report from a structural inspection
Following a disaster, the landlord is legally obligated to make sure the rental property satisfies building health and safety regulations. To find out if the structure is still fit for habitation, a structural engineering evaluation might be scheduled. For instance, the Residential Tenancy Act in New Zealand does not mandate that landlords provide copies to their renters; nonetheless, this is still a standard practice, so be sure to verify your local laws.
Damage versus the rental contract
The tenant may decide to terminate the lease or desire to stay at the property, depending on the extent of the natural disaster’s damage. The rental agreement can be changed in this situation in a number of ways. For instance, the landlord may temporarily lower the rent until the property is completely restored to its prior state if it is still in livable condition. Rent will be waived until the renters return if they are need to vacate the property while the repairs are being completed. Lastly, the tenancy may be ended if there is no other choice.
Working with your renters to protect the safety of their property is one of the many things you can do as a landlord to reduce exposure and speed up recovery following a natural disaster. Keep the lines of communication open in both ways regardless of the approach you decide to pursue.
