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All Forum Posts by: Account Closed

Account Closed has started 6 posts and replied 15 times.

Post: Landlord insurance - when to make a claim?

Account ClosedPosted
  • Posts 15
  • Votes 5

Thank you for the great info!!

Post: Landlord insurance - when to make a claim?

Account ClosedPosted
  • Posts 15
  • Votes 5

Thanks for the reply. Yes not our fault, the upstairs owner’s dishwasher leaked. It’s my understanding that a claim is a claim even if not your fault?

Post: Need Advise on Money Pit - Should I Sell As Is?

Account ClosedPosted
  • Posts 15
  • Votes 5

It will also take much longer to sell unfinished. Could you find a friend to “invest” with you and agree upon a % of profit? This is of course if you would rather not ask for a personal loan. 

Just a note that if the dog is a “dangerous breed”, you should check w your insurer. Labs are obviously not but some tenants like to get bulls and rots. The way I read the law for my state is that landlords are only required to make reasonable accommodations. If it’s an animal that is not covered under your insurance, you could deny it. I agree w the other poster, if this is common for millennial renters to do, charge a move in/out fee

Post: Landlord insurance - when to make a claim?

Account ClosedPosted
  • Posts 15
  • Votes 5

I have potential damage ($4k) now on a unit (no fault to me) and started a claim bc I need the damage repaired as soon as possible.  My deductible is $1k. I have since reconsidered doing this as it would increase my premiums (originally I was told by well meaning friends that since it wasnt my fault, it shouldn’t affect my premiums). Should I make the claim? Or cancel it. I have a no claim history. 

Also if you could share your strategy when it comes to insurance? Pick a high deductible and just treat it as catastrophic protection?