Reply to Hot water system broken in rental property. Will take a week to repair.

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[quote=Anonymous][quote=Anonymous]Where does a lease say a landlord has to pay for a hotel? And thanksgiving week to boot.

And if you pay for a hotel do they still pay rent on those days?

I don't get it. When did the landlord become the red cross? 100 percent agree no heat and hot water tenant should not pay rent on those days. Maybe I pay for hotel if they pay rent and I eat difference.

But my place is rented out for $75 bucks a night on a year round lease. So if it happened to me I would be out a weeks rent plus several months worth of rent on that repair.  A modest hotel is one thing, but putting them up in a $200 a night hotel, losing $75 night a rent and paying for a very expensive repair is a lot in one week. They better be good tenants who are long term.

[/quote]

I don't know about hot water, but the landlord has to provide heat. He can buy a bunch of portable electric heaters if he wants, but he has to provide heat if the temperature goes down to some amount.

As a landlord, you ARE the hotel. Your tenants are paying you by the month for a service. This means they don't have to pay you AND a hotel if you can't provide the legally mandated minimum amount. Your homeowner's insurance will likely cover this, but then your rates will go up.

Yes, this is very expensive. In the end, you will be out the cost of the repair and some additional cost to get the tenant the service they contracted for with you. But, when all is said and done, you still have your investment property, and the tenant just has a place to live. Presumably the reason you are a landlord is because you believe it makes sense to invest in real estate.

It is very, very difficult to make any money, or even break even, with a single rental property unless you can do A LOT of work yourself.[/quote]

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