My Rental Property Flooded
Looking for advice.... My rental property flooded. The toilet (feeder line) broke on the 2nd floor while the tenant was not home and did quite a bit of damage. The unit needs all new flooring/carpet,Sheetrock (walls/ceiling) , tile, base boards, paint, etc. In the current enviroment, it is tough to find labor and I expect this project will take 2 months to get all the materials and labor. The tenant still has 7 months on their lease. They are wanting to try and stay duing the renovation, yet I do not think it is a good idea. Can I terminate the lease?...Any other options? My insurance will cover lost rent.
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Bruce Woodruff
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Bruce Woodruff
#3 All Forums Contributor
Pro Member
#3 All Forums Contributor
- Contractor/Investor/Consultant
- San Diego / Phoenix
Do NOT mention mold! You'll open a can of worms (possibly) that the tenant could run with.....