What is the name of your state? OH
I posted this on the rental property area too, however this might also fall under insurance too as it deals with a denied insurence claim.
Ok, I am at wits end here and could use any advice on this subject that is out there. I own a small but newer apartment building. When I bought this building it was seriously mismanaged and neglected. I have put my heart and soul into this building and was finally able to get it fully rented, and things were finally looking up. I must be the most oblivious person in the world, because I got a call Friday at about 5:00 PM from the local police department saying they had served three and I needed to get there to secure my building. Each of my units being only constructed fifteen years ago have steel fire rated doors leading into them. The police battering rammed them, pretty much destroying all three at a cost of about $1000 each for a final bill of $3500 with labor to replace them. To top it off my insurance company has told me that government sponsored destruction or damage is not covered. The City sent me a card with an address to make a claim, but I am worried they will deny it, plus it takes an average of three month for a claim to get approved. Repairing this on my own dime will cause major financial hardship for me; I was already struggling to make my property tax payment and insurance payment this January. The girl at the city solicitor’s office (where the claim is made) could not even tell me my chances of get the claim approved, because she just started. I have complied with everything the police have asked of me including evicting the parties involved. So I am also going to be running at a little over half capacity, till I get these people out and new ones in. I might be able to find a door company to give me financing, but if the city fall through I am still in a tight spot.
Any Suggestions? Also is it common for this type of thing not to be covered under insurance?
Thanks
Don
I posted this on the rental property area too, however this might also fall under insurance too as it deals with a denied insurence claim.
Ok, I am at wits end here and could use any advice on this subject that is out there. I own a small but newer apartment building. When I bought this building it was seriously mismanaged and neglected. I have put my heart and soul into this building and was finally able to get it fully rented, and things were finally looking up. I must be the most oblivious person in the world, because I got a call Friday at about 5:00 PM from the local police department saying they had served three and I needed to get there to secure my building. Each of my units being only constructed fifteen years ago have steel fire rated doors leading into them. The police battering rammed them, pretty much destroying all three at a cost of about $1000 each for a final bill of $3500 with labor to replace them. To top it off my insurance company has told me that government sponsored destruction or damage is not covered. The City sent me a card with an address to make a claim, but I am worried they will deny it, plus it takes an average of three month for a claim to get approved. Repairing this on my own dime will cause major financial hardship for me; I was already struggling to make my property tax payment and insurance payment this January. The girl at the city solicitor’s office (where the claim is made) could not even tell me my chances of get the claim approved, because she just started. I have complied with everything the police have asked of me including evicting the parties involved. So I am also going to be running at a little over half capacity, till I get these people out and new ones in. I might be able to find a door company to give me financing, but if the city fall through I am still in a tight spot.
Any Suggestions? Also is it common for this type of thing not to be covered under insurance?
Thanks
Don