Do Landlords Bear Responsibility for Property Damage in the Event of a Natural Disaster?

4/6/2022 (Permalink)

Commercial storm damage.

Who Is Responsible for These Expenses?

Hurricanes, floods, wildfires and other forms of nature's wrath often result in structural damage and loss. The Insurance Information Institute reports that $119 billion worth of economic losses occurred in 2020 as the result of such incidents, $74 billion of which was insured. In such situations, there is generally a need for repairs and/or the services of a professional restoration and cleanup company in Woburn, MA. When it comes to a rental property, though, who is responsible for these expenses? The instinctive answer may be, the landlord of course, or maybe the renter's insurance. The actual answer is, that both are responsible for a portion of the damages.

What Costs Does Insurance Not Cover?

Renter's insurance covers a lot, depending on the policy. However, it generally does not include everything. Kinds of damage that often do not fall under its umbrella are:

• The harm caused by earthquakes and floods
  
• Theft and damage caused in a robbery or break-in
  
• Accident-related breakage
  
  

What Costs Is the Building's Owner Obligated To Cover?

In the wake of a storm or other severe event, tenants may look to their landlords to take care of any damage. The latter usually handle any harm sustained by the unit/structure itself, and they can still hold said tenants to their rent agreements in cases where there is damage. However, the occupants have the option of requesting deadline extensions, waivers, payment reductions and even lease termination.

What Costs Is the Building's Owner Not Obligated To Cover?

Landlords typically do not deal with any damage done to renters' belongings. Instead, such items fall under the domain of insurance coverage. This includes clothes, jewelry, electronics, furniture and other personal effects.
Individuals renting space to others are only responsible for expenses associated with the actual building itself, such as a leaking roof or shattered window, not its contents. Renter's insurance exists to indemnify personal possessions. However, it does not cover every incident, so it is important for lodgers to carefully go over their policies and see what is and is not included.