REAL ESTATE LIABILITY COMES OUT OF NO WHERE SOMETIMES

By
Real Estate Broker/Owner with People first then business! Ran Right Realty Riverside, Ca BRE LIC #636943

I manage property and I am in the process of renovating a rental that was occupied for about 8 years. Now, with several thousand dollars of repairs, I can raise the rents and enjoy another 8 year run of income. But wait, a problem came up that bares sharing

CARPETS ARE SOAKED

We pull the carpets and part of them are soaked. We start an investigation that leads us to the corner of the room, then to the outside and finally to the cause and culprit of the whole thing. A sprinkler head that shoots water in all directions was placed 5-6 feet from the corner of the home

GOOD NEWS AND BAD NEWS

We found the problem, all its related issues including having to replace some foundation sole plates, sheet-rock, siding, sliding glass doors and concrete work. Now for the bad news...the sprinkler is on the neighbors property which makes them liable for all damages incurred.

THE NEIGHBOR DID NOT KNOW

I went over there today, knocked on the door, explained the whole thing and asked them inspect the damages and the suspect sprinkler. The owner came out and we suggested turning on the sprinkler to prove the point. He did and that things shoots 8 plus feet over the property line. In seconds, the place was soaked

CHINESE WATER TORTURE OF A THOUSAND DROPS

I asked him how long do you leave this on? He says 5 minutes every other day. Well after months of this, we have a fiasco and major damage that is being fixed as I write this post.

INSURANCE COMPANY GIVES IMMEDIATE GO-AHEAD

The insurance company was notified and gave the go ahead providing I take pictures, document all repairs and meet up with them this coming Monday. They will cover all the repairs plus the loss of rents. I Will then fix the unit up to perfection and some lucky tenant is in for a treat

REAL ESTATE REWARDS AND PUNISHES

Real Estate is very rewarding when it is performing. It is also no respector of problems and when there is a hiccup, it can cost serious time and money. Owners, take note of your insurance and your sprinkler heads as well as checking to see that water drains property. People who hire property managers can relax...

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Tags:
rentals
naggar
maintenance
ruined carpeting
property manager
real estate
claims
liability
neighbors
insurance
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Rainmaker
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Richard & Beth Witt
RE/MAX Wittney Estates 516-795-6900 www.longislandrealestatesearch.com - Massapequa, NY
Broker/Owner RE/MAX Wittney Estates Long Island NY

For sure real estate has it's up and it's downs but I think the ups far outweigh the downs...  glad your insurance came through..

Mar 10, 2012 01:50 PM #1
Rainmaker
1,347,426
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

Richie to Rich...I hear you and yes to the insurance. Of course the neighbors insurance company wont be too happy, but that is the business we are in..thanks R

Mar 10, 2012 02:11 PM #2
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Rainmaker
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Richie Alan Naggar Author PEARLS SERIES of books

on LIFE and LOVE plus Real Estate too!
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