Water Leak on property, who pays for usage? QLD

Discussion in 'Property Management' started by TMNT, 17th Aug, 2017.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Your damaged pipe caused the water consumption loss... Perhaps you are liable. Hard to see how its insured unless an event occurred to damage the pipe (ie car accident). Fraudulently claiming a PPOR concession isnt right and could backfire big time.

    Owing a property comes with ownership responsibilities. The gold plated pipe repair and water loss will be deductible...Some consolation.
     
  2. melbournian

    melbournian Well-Known Member

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    Did the tenant report to you straight away about the leak and did you attend to it once it was reported?
    If so - then any usage shouldn't be your problem it should be more the insurance LL that covers this.

    If it was something reported last month and you only attended it after a couple of weeks, the the LL insurance is def not going to cover. Even the 3k plumber fee should be covered if it was attended to ASAP.

    Have something similar many years ago. was really only out of pocket for the excess.
     
  3. TMNT

    TMNT Well-Known Member

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    ive come to accept this a lot more recently
    I dont think insurance will cover it, although I havent really investigated
    yes apparently reported and fixed within 24 hours I believe,

    ill need to check LL insurance however my company the premiums go up by 10-20% after a claim

    I need to check on the excess as well, and make a judgement call,