Updated about 4 years ago on . Most recent reply
Insurance Loss of Rent payout
When you file a claim for a rental property and receive loss of rent reimbursement, is your property manager entitled to their percentage of share? If yes, it does not seem very fair because they don't pay any out of pocket deductible.
What are your thoughts?
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
The fairest off the top of the head I can come up with is they pay the same percent of the premium and the deductible that they hope to get from the collected rent.
If they refuse to compromise at all I MIgHT be persuaded not to make the claim at all. Saying it will cause my insurance rates to go up in the future. Let them know that’s your plan if you can’t come to a compromise on the management percent.
I assume you love the past performance of this PM or you’d be looking for a replacement already.