Are HOA fees a waste of money?
In general, high HOA fees typically mean more landscaping, general maintenance and amenities. However, if you’re not someone who cares about having a swimming pool or gym, then these high fees could be a waste of your money.
What to do if you have water damage in your condo?
Determine the cause of the water damage. If the water damage occurred because your toilet overflowed or a pipe in your kitchen burst, the claim will likely go through your personal condo insurance policy. If the water damage resulted from an overflow in an adjoining unit, however, the situation can get sticky.
What happens if there is water damage in an upstairs condo?
In most cases, accidental water damage from the unit above yours is covered by your homeowners insurance on your condo and belongings. If it’s possible to prove the damage was preventable, your insurance company may pursue further action with the neighbor’s insurance carrier.
Can a condo association be negligent for a water leak?
(This is one reason why it’s important to define negligence in the bylaws). For example, if the unit owner does not report or try to prevent a water leak that then causes damage to the unit below, then they might be considered negligent – in fact, associations should make it a rule to immediately report any water leaks that are causing a flood.
Can a multi owner house have water damage?
But, while these common-sense steps can definitely reduce incidents of water damage, nothing will prevent them entirely — this is just one of the negatives of living in multi-owner housing.
Determine the cause of the water damage. If the water damage occurred because your toilet overflowed or a pipe in your kitchen burst, the claim will likely go through your personal condo insurance policy. If the water damage resulted from an overflow in an adjoining unit, however, the situation can get sticky.
What happens when water comes through the roof of a condo?
For example: water comes through the roof, intrudes into and damages upper condo unit #1, passes through and damages the common element walls and floors along the way, then ends up in, and damages, lower condo unit #2. Who is responsible for damage to the roof, condo unit #1, condo unit #2, and all the common elements in between?
In most cases, accidental water damage from the unit above yours is covered by your homeowners insurance on your condo and belongings. If it’s possible to prove the damage was preventable, your insurance company may pursue further action with the neighbor’s insurance carrier.
(This is one reason why it’s important to define negligence in the bylaws). For example, if the unit owner does not report or try to prevent a water leak that then causes damage to the unit below, then they might be considered negligent – in fact, associations should make it a rule to immediately report any water leaks that are causing a flood.
