I just fired my PM, because I couldn't figure out what exactly I was paying him for. That's not my problem though. After getting rid of him and speaking with the current tenant, the tenant informed me that the screened in porch has been leaking when it rains and that he had informed the PM months ago. The PM never relayed that little tidbit of info. Now, it seems that the sheathing underneath is probably rotten and at the least the porch will need a new roof.
I haven't called yet, but I'm wondering if this will be covered under our homeowner's policy. Also, would you go after the PM for damages after failing to inform the property owner since he had the info? How would you go about it?
It's not a large roof. Probably 10x15 feet and I have a really good local handyman, but I'm pretty livid over this guy. He's been completely worthless as a PM.
Did the tenant put it in writing via email? Otherwise, proof-wise/court-wise, it's a he said she said and you're not going to get anywhere with that when the PM says they were never told by the tenant. However, if there is a way to estimate the addl damage caused by not relaying the info to you earlier, you could say you expect that payment from the PM and if you don't get it you plan to write some reviews online.
Based on what others have said, I don't know that I would use my homeowners policy for a smaller claim since it could increase your rates, and I don't even this would be covered since it sounds like neglected preventative maintenance.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Get the Ultimate Beginner's Guide
Sign up today to receive the popular eBook for free!