Welcome!

By registering with us, you'll be able to discuss, share and private message with other members of our community.

SignUp Now!

Flooding of Rental Property - Alberta

E

Inspired Forum Member
REIN Member
Joined
Aug 2, 2015
Messages
93
There was a flood in Alberta due to a rainstorm.

I have a property out there that was generating rental income.

All the ground units were flooded 4-6 inches.

Some of the water came from underneath the ground, and some of came from overground flooding.

The lease had to be broken with 4 tenants on the ground floor as they could no longer live there.

There's extensive damage. The building does have insurance.

I would really appreciate any advice or suggestions on how to proceed.
 

Thomas Beyer

0
REIN Member
Joined
Aug 30, 2007
Messages
13,881
You have rental interruption insurance ?

Fix the problem. Contact insurance company. Might need new weeping tiles and outside insulation besides interior renos.

Welcome to asset management. Every asset comes with a liability and/or obligations !
 
Top Bottom