Reduced Rent for Tenants - Home Renovation due to water damage

Reduced Rent for Tenants - Home Renovation due to water damage

Member since 2018 · 3 posts · 0 votes

Hi there! I am not sure the protocol for this and wanted to get some feedback. I currently own a 3 bedroom townhouse and rent out 2 of the rooms. On 10/26/18 there was a flood in the home (fault of my own) causing damage to the kitchen, master bed/bath (my room), and the main living room.  The rooms that I rent out were not damaged. I gave the tenants half off of their rent for the month of November, and they have paid their normal amount for December and January so far. The kitchen renovation still remains and I am not 100% sure the end date on the project.  Should I be giving reduced rent during the renovation period? If yes, how much should should I be reducing it by? 

I also would note that the renovations completed upgrade the home: Recessed lighting, granite counter tops, new cabinets, new toilets for the entire house, new flooring for the whole main level. 

Thanks so much for any help! 

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  • Member since 2016 · 13k+ posts · 12k+ votes
    7y

    No, you do not need to provide any farther discounts. Since they have paid full rent for Dec and Jan and have not mentioned it they are happy with the situation.  Stop thinking about it.

    I hope your insurance is covering all your costs.

  • Member since 2018 · 3 posts · 0 votes
    7y

    Thanks Thomas! Insurance is covering most, thankfully! 

    One of the tenants did mention that "she feels a reduction in rent would be appropriate for the inconvenience". She did already pay for January. 

  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    7y

    Only if it is a major impact on their livelihood. You live there and seem to be surviving so what makes you think they can't hack it? If they aren't complaining, don't worry about it.

    The DIY Landlord Book4.7243 Reviews
  • Member since 2018 · 3 posts · 0 votes
    7y

    Thanks Nathan! One of them did bring up that it had been an inconvenience and bothered her that people were in and out just recently. It is a lot, but I think I can be more easy-going/go with the flow than most. I will reconsider before Feb 1 if anything is left unfinished. Appreciate your feedback!

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