rental insurance coverage

Unknown-large
On Oct 27, 2008 6:41 pm spazz said:

I have a rental home in Las Vegas that was raided because the renter was growing marijuana in the attic now there is a mold problem. will my renters insurance cover the damage?

More_discussions

(3) Answers

Guru
On Oct 28, 2008 11:54 am Ali said:

Probably not . . there's a section called "Perils Insured Against" in your policy, so pull it out and read it . . mine specifically excludes "mold, fungus or wet rot."

You are going to want to fix the problem quickly though -- mold is one of those problems that gets worse the longer that you ignore it. I used a technician from All Tech Environmental to remediate my basement mold; I don't know if they have a franchise in Nevada, but perhaps they can recommend someone. (www.alltechenviro.com)

You basically need to get rid of the existing mold through treatment, and then make sure there's enough air circulation/sunshine so the problem doesn't recur.

As for your tenant, he essentially vandalized your house. You are well within your rights to sue him for the costs of repairing the damage.

The problem with lawsuits is that even after you win, you have to collect on them -- I know that it can be tough to recover damages from the kind of deadbeat who would grow weed in your home, so you'll have to weigh whether that's probable or even possible.

I am sorry this happened to you. Good luck with the repairs and finding a new, less reprehensible tenant.

Guru
On Oct 28, 2008 10:32 pm MarkKantrowitz said:

Look in the Yellow Pages for "mold remediation". ServPro, Service Master Clean, Service Magic and FireDex advertise nationally.

If the mold is extensive, it is best to call in professionals to deal with it. Some mold is toxic. So even though you could use Tilex or bleach to kill the mold and cut off the source of moisture to prevent regrowth, it is better to use an experienced mold remediation firm.

The EPA publishes a guide to mold remediation in the home.

On Oct 29, 2008 12:04 am cwad1 said:

when all remediation iis complete, make sure you have an HVAC checked out (it may be part of the remediation service).

Answer this question

Submit

Top FiDeals

More_fideals
Sm_go
Type Today Week Ago
15 Year Fixed 4.83% Rates_down 4.99%
30 Year Fixed 5.12% Rates_down 5.18%
1 Year ARM 3.97% Rates_down 4.00%
5/1 Year ARM 4.54% Rates_up 4.53%
Type Today Week Ago
Line of Credit 4.53% Rates_down 4.65%
10 Year Loan 7.70% 7.70%
15 Year Loan 7.85% 7.85%
Type Today Week Ago
Interest Checking 0.34% 0.34%
Money Market/Savings 0.59% Rates_deposit_down 0.61%
12 Month CD 2.04% Rates_deposit_down 2.11%
60 Month IRA CD 2.95% Rates_deposit_down 3.01%
Type Today Week Ago
Cash Back Cards 10.51% Rates_down 10.72%
No Annual Fee Cards 10.95% Rates_down 11.01%
Reward Cards 11.54% Rates_down 11.65%
Small Business Cards 10.67% Rates_down 10.80%
Student Cards 13.20% Rates_down 13.45%
Platinum Cards 10.92% Rates_down 11.04%
Provided by Informa 01.07.09