All Forum Posts by: Carl Rowles

@Carl Rowles as a public school teacher you may have a 403b which also sometimes offers loans!

Hi Carl, I am going thru the exact same issue with my first rental; a large 3 unit house. A water line burst in the 3rd floor ceiling and by the time I discovered it there were beautiful waterfalls from the ceiling on each floor and severeal inches of water in the basement. The building was vacant as we are remodeling the first floor and had just finished painting the 2nd and 3rd floors and were in the process of qualifying tenants to move in the following week.  Good advice from others, talk with insurance, and get started on damage control. 

Stay strong!

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!

I'm sorry in advance if I sound blunt or stern its how I work. But if I were you I would be making a immediate bee line back to the property (xmas or not) to figure what the heck happened and quickly make an assessment to get the property back in condition.

  We here don't know the details of the damage. Ceiling fell in? You mean the water was so heavy that it cracked the floor joists and the entire floor and basement ceiling fell in?, or the same with the 2nd floor? or did a sheetrock panel get soaked and fall? One is a big deal, the other is nothing.

If you have a property manager he should be handling all this while you enjoy your xmas. If you don't, you should get to it and be there now, that's your job as  landlord. If you have zero experience in construction, pay an experienced handyman a few hundred to make a quick assessment. Then get another opinion. Rent/buy a sump and get that water out.  Hopefully it aint all that bad. But you have to figure it out.