Who is responsible if your condo catches fire?

That’s because two different policies may help protect your condo from fire (and other risks): If a fire breaks out, you (or your insurer) may have to pay for some damage, and the association (or its insurer) may be responsible for other damage.

Is the risk of a condo fire covered by insurance?

While it’s a risk that’s typically covered by a condo insurance policy, your risk for fire isn’t limited to the conditions in your own unit. You may also be susceptible to fire from neighboring units or common areas.

How much does it cost to rent a house to your daughter?

It’s a little raggedy, so you rent it to your daughter for $100 per month, which is an annual rental rate of $1,200. The fair market rental for the unit in its current less-than-optimal condition is around $600. Now you decide to really fix the place up because, well, she’s your daughter.

Can a condo association kick in for damage?

And in some instances, the association’s insurance policy may also kick in to pay a portion of the damage, depending on how the association’s bylaws, declarations or master deed are written and, of course, where the damage takes place.

Can a landlord hold a tenant responsible for a fire?

A tenant can use “constructive eviction” as a defense in court if the landlord tries to hold them responsible under the lease for the damaged unit. Generally, if a fire makes a unit unlivable, then a tenant will need to find someplace new, which can be scary if there’s the threat of an old lease hanging over their head.

What happens to your rent if your house catches on fire?

A tenant with comparable alternate housing must pay rent to the landlord at the lease rate. D. Other Payments. If a fire is caused by a landlord’s negligence, the landlord may be liable for the tenant’s inconvenience, lost wages, damaged personal property, and lost perishable food.