Who is responsible for destruction to property, the PM or Owner
Hello Everyone, Recently in one of my STR homes, the tenants cause major destruction to the property. It looks like they rented it for 2 days and went wild. Holes in walls, broken bathtubs, smoking weeds in the house, and a stolen 75inch TV.
I am completely hands off on this property. I have a PM that deals with everything from leasing, to cleaning, to checking the house, to payment. I was never informed of this damage, but only saw that my monthly statement was much lower than expected. Deducted from my earnings was a Police report, extra cleaning, repairs, and a new TV.
My question is why am I being charged for these items when it was clearly the fault of the PM to properly vet the tenants. Is this normal? There is a pending investigation from Airbnb to recoup some of the funds.
Feed back is greatly appreciated, so thank you!