Flooded House-Plz Help

[Carl Rowles]

Hey BPFAM,

new investor, so just need guidance. 

We are eight hours away from our property visiting family for Christmas and got a call that our rental has 3 feet of water in the basement. A ceiling has collapsed and the property is not safe to enter. Water is shut off and they are removing the electrical meter. Tenants leased the property beginning December one but apparently have not moved in yet? Not sure on that front. What the city housing clerk is telling me is that there was a water leak from behind the sink pedestal on the second floor bathroom that has been running for a week.

 I don’t even know where to begin outside of calling my insurance company. Can anyone please lend some guidance?

[Bryant Xavier]

Carl,

Sorry to hear about this.. especially while you're away I'm sure is not a good feeling. 

First step is always to cut the water source and fix the leak asap. Sounds like you stopped water which is most important. I'd call insurance before having any sort of plumber to come do any repairs. Until then, water remains off. IF plumber comes out to fix repairs before insurance takes their look, make sure to obviously keep all receipts and or money spent on the repairs. 

I am no professional here, just explaining from my experience.. first, insurance starts claim and they send adjuster out to assess, check damages, and collect documentation. After assessor comes out and consults with insurance company, they'll send demo guys out to come do demo work and remove wet drywall, insulation, etc. they'll usually put down dehumidifiers and let the place air out a bit to see what actually needs replacing and what was able to dry out. They'll moisture meter everything affected to see if it needs to be removed or can stay. I'd assume all vanities, lower cabinets, 3to 5ft of drywall and base will all need replacing. 

After they asses what all needs replacing or what they feel needs replacing they'll submit to you what they're willing to cover and deductibles and payments etc.

I'd suggest making sure to get a good GC/construction company for repairs. Having a GC that will provide good documentation, itemized receipts, etc. will make the process much easier I've noticed. 

Hope this helps and hope things resolve soon!