CRAZY! CAR CRASHED INTO MY FOURPLEX! -Please help

[Andrew Ramler]

Hey everyone, 

If you are in Dallas, Texas you have likely seen my story on the news over the last two days. A car crashed straight into my building and the fire department speculated they were going 120MPH! Needless to say, it severely damaged the building. Luckily, the tenants are all okay. All three passengers did die. Considering the media has grabbed onto this event, I want to make sure to have all my bases covered. I have a few questions but also just looking for overall advice. See attached pictures. 

A few facts to help you fully understand the situation: 

• I live in the basement of the building (the 5th unit).
• The basement and the one other unit were damaged very badly
• The other 3 units are ok for the most part
• All the meters were pulled
• I do not have replacement cost insurance
• I have full coverage up to 310K (my estimated value of property) 
• loss of rent is not on my insurance

Questions-

• My tenants cannot currently live in the building. Should I terminate their leases? Do I need to pay for their logging?
• What red flags should I be looking for with insurance?
• Should I hire an insurance advocate? 
• Will the city require me to take the whole building to code?
• Should I hire an insurance contractor? Or will any quality contractor suffice? 

[Karen Margrave]

@Andrew Ramler

  That is HORRIBLE!  You will need to consult an attorney., Much of the cost might be covered by the auto insurance of the driver (even though they died) Also, here in California we have to disclose if someone dies on the property, do you there? 

Though the damage doesn't seem extensive, you will want to have a structural engineer look at the building. The force of the impact may have traveled throughout the entire structure and there could be cracks you are not seeing, etc. 

Not knowing what the laws in your state are, it's hard for me to give you any specific advice. Obviously you will need to talk to the local building department and find out what will be required as far as bringing up to code. It will probably be the same as if it were intentionally demolished. Due to the fact that 3 people died and the continual perception it will give future tenants, you might want to tear it down and rebuild new. 

As to terminating the leases, what does it say in the lease, is there any verbage that addresses disasters, or other instances where the house becomes uninhabitable? Does your insurance cover paying for temporary housing and for how long? You might have to buy out the leases.  Again, CONSULT AN ATTORNEY, as nobody on BP can give you legal advice and that's what you need. Good luck.