Hi, one of my rental house was one of the many significantly impacted by the winter storms in Texas and sustained heavy damage, most of which won't be covered by insurance. I'm facing a significant loss.
I've looked everywhere on FEMA's website and it doesn't seem that there is much assistance available to rental property owners that suffered a loss in a presidential declared disaster; outside of a SBL loan. My margins are tight as it is and I don't know how I will be able to repay the loan. Are there no grants available to landlords that own single family houses? It seems, from what I've read, grants are only available if you live in the impacted property.
@James Mcsweeney burst pipes and the subsequent damage should be covered by homeowners insurance. We had 15 properties with burst pipes, but didn't file any claims on this situation. What is insurance telling you?
We have a cousin in Houston who lost all the piping to his pool as well as inside the home. He was told his Ins would not cover it & the pool alone was going to be a huge $$$. (My daughter in Scottsdale AZ had a small 18inch pipe break/leak under her pool deck & it cost $3500, so imagine replacing ALL the PVC).
He is also looking into some Fema/Local help but no response yet. His comment was "sometimes you're the windshield, sometimes you're the Bug". BUT I am ready to ship him some plumbing supplies.
Before all this happened my SIL had their old circa 1974 water/sewer pipes, under their slab, fail & their ins tapped out at $10k, so they were on the hook for $27k.