IP robbed and keys stolen

Discussion in 'Property Management' started by dan2101, 23rd Nov, 2015.

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  1. Scott No Mates

    Scott No Mates Well-Known Member

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    @jim1964 & @wylie - the insurer will seek recompense from whoever caused the damage, paying the excess is only the first step in the journey.
     
    Scott No Mates, 25th Nov, 2015
    #21
  2. wylie

    wylie Moderator Staff Member

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    I understand that but now curious to know your answer to what you would do in the circumstances of my post 18. Tenant insurance doesn't cover damage to my house.
     
    wylie, 25th Nov, 2015
    #22
  3. dan2101

    dan2101 Well-Known Member

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    Well in my case by the time I got hold of the agent they had already called a locksmith out and it cost me $377 to replace all the locks.

    Now they want alarm, sensor lights, more locks on gate. That won't be happening.
     
    dan2101, 25th Nov, 2015
    #23
  4. Big Will

    Big Will Well-Known Member

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    Did you get a case number?

    Have they been a good tenant besides excluding this event?

    Do you want to keep the tenant?

    How much would it cost all up to do this?

    Can you increase the rent by $xx amount to cover these cost.

    What if you could do all of what they want for $500 and they agree to raise the rent by $10 pw for this and resign for 12 months? If they did agree you have made your money back and kept a tenant in, plus you can claim depreciation and added value to your property.

    Wouldn't this be a better thing than either kicking the tenant out or having them leave cause you didn't want to spend some money.

    Even if it was $1,000 and you raised it by $10 it takes less than 2 years to recoup (or raise it by $20 and takes less than 1 year.

    Another cost is if the tenant leaves and they are currently paying $400 pw with 2 weeks letting fees that is $800 out of your pocket just to find a new tenant plus marketing, maintenance, repairs and doesn't include loss of rent if vacant for 1 or more weeks. This also has the additional risk of what is the next tenant going to be like (they could be worse!).

    Remove the emotion from your decision and think about it as a business.

    I am not saying take it up the clacker but you need to view the bigger picture.
     
    Big Will, 25th Nov, 2015
    #24
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  5. dabbler

    dabbler Well-Known Member

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    If they drive into it, they pay, they either use insurance on car, or cash, up to them, if they refuse, then you go to your insurance and let them sort it out with the party that did the damage to get the money
     
    dabbler, 25th Nov, 2015
    #25
  6. wylie

    wylie Moderator Staff Member

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    I get all that. I wouldn't even claim for something that low, just fix it, but tenants often don't have that sort of money available. You only have a certain timeframe to make a claim (I think) so I guess I'm thinking more about larger amounts. I think asking a tenant to fix something (say they start a fire in the kitchen and do $15K damage) I would never in a pink fit expect them to pay to repair it. Obviously I would make a claim on my insurance, and I am curious to know if others would ask the tenant to pay the excess?

    It was suggested in an earlier post that if they don't have insurance why should I claim on mine? But tenants insurance would not cover this sort of thing (AFAIK).

    And if they don't have insurance, I would have to use mine to get the repair done. I realise the insurer will go after them, but I'm curious really if other landlords would expect a tenant to pay the excess? I'm guessing so and I hope I never have to find out.

    The claim we made years ago we had no chance of getting the tenant to pay the excess as they skipped (leaving the girlfriend to be chased by the insurer). I think we did pay that excess as I recall thinking "$750 and the house is freshened up".

    In the latest insurance we had to claim on the Annerley hailstorm. The roof was replaced and we paid the excess (naturally). I'm more interested in whether a landlord would ask the tenant to pay the excess if they start a fire, slip and crack a bathroom glass screen, that sort of thing, especially as I've chosen a high excess as we rarely claim, and it keeps the premiums down.
     
    Last edited: 25th Nov, 2015
    wylie, 25th Nov, 2015
    #26
  7. dabbler

    dabbler Well-Known Member

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    I think they could insure, but I doubt many do.

    In the case of a fire, if it was an accident, I would not have thought to ask them to pay excess, although it does seem reasonable, however, I doubt they would pay, nor be made too. If done with a car you would probably expect they look after it.
     
    dabbler, 26th Nov, 2015
    #27
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