Increase in insurance

[glenn walker]

The Russian Voo-Doo-Curse Is Working And Now Main Line Will Explode and Units Will All Be Flooded And Nando Will Receive Call While On Vacation From Fire Department

 

[Fernando]

CAR Realtor form has an insurance contingency.
Buyers now have an opportunity to investigate the availability and affordability of insurance for the property and use it as a contingency to get out of the country.

Speaking of insurance, I typing this new 10 year commercial lease and I have tenant to get liability as $1 million and $500,000 for building. Should I request higher so I don't have to buy more for my insurance?

 

[glenn walker]

Your going to do a 10 year lease on that old building LMAO

 

[Fernando]

Your going to do a 10 year lease on that old building LMAO

Tenant takes care of sewer line and pay share of rear parking lot and roof. Anything else I forgot.

 

[glenn walker]

Tenant takes care of sewer line and pay share of rear parking lot and roof. Anything else I forgot.

Good luck on that - does main line serve other units ??

 

[Charles West]

Tenant takes care of sewer line and pay share of rear parking lot and roof. Anything else I forgot.

Just think of the reduced liability you would have with a property manager, it boogles the mind.

 

[Fernando]

Good luck on that - does main line serve other units ??

Sewer line shares with adjacent restaurant which then goes to main line in 3rd restaurant. I hope main line never gets clogged.

 

[Tom D]

your building insurance only covers water damage from a roof leak, or a leaking line in the building i believe. a sewer problem is all your cost up to the main city sewer line. interior water damage from that is your cost problem. when interest rates were 3% that was the time to rehab all your properties, and then not to worry about them for 20 years. so to continue saving a penny you will eventually give yourself a heart attack from this aggravation.

 

[Fernando]

your building insurance only covers water damage from a roof leak, or a leaking line in the building i believe. a sewer problem is all your cost up to the main city sewer line. interior water damage from that is your cost problem. when interest rates were 3% that was the time to rehab all your properties, and then not to worry about them for 20 years. so to continue saving a penny you will eventually give yourself a heart attack from this aggravation.

Last claim when I had sewage backup for one unit, the other unit also had leaking pipes but insurance company wouldn't cover it.
Like a leaning tree. Insurance won't cover removing that tree but if fall and damage house, insurance will cover it.

 

[Tom D]

fernando, you want to save premium cost, and you want to self insure. but you do talk about your claims. they got you on the cancel soon radar.
i like it when the neighbor has a fire and my house next door is wrecked from just the smoke. easy money to redecorate. have you thought about next door jewish lightning striking to get that remod money.