Have just had my shop in Papakura broken into.
They smashed a couple of windows to get in.
The tenants have replaced the windows and initially said their insurance would cover the cost of this. But now their insurance company is saying it's my cost. And speaking with my broker, it appears it is. I have the standard agreement to lease 6th edition. Deed of Lease still to be done. They've only been there 3 months.
The situation used to be that it was the tenant's cost, but there were court cases and now it's the landlords. Sound familiar to the residential situation?
Anyway, so it looks like I'll have to make a claim in and my excess will be $1000. And if it keeps happening then apparently the excess will quickly rise to $2500 and go up steeply from there.
So I want to know what, if anything I can do about this. I don't want to be up for thousands of dollars each time this happens.
Any commercial landlords out there got any advice?
They smashed a couple of windows to get in.
The tenants have replaced the windows and initially said their insurance would cover the cost of this. But now their insurance company is saying it's my cost. And speaking with my broker, it appears it is. I have the standard agreement to lease 6th edition. Deed of Lease still to be done. They've only been there 3 months.
The situation used to be that it was the tenant's cost, but there were court cases and now it's the landlords. Sound familiar to the residential situation?
Anyway, so it looks like I'll have to make a claim in and my excess will be $1000. And if it keeps happening then apparently the excess will quickly rise to $2500 and go up steeply from there.
So I want to know what, if anything I can do about this. I don't want to be up for thousands of dollars each time this happens.
Any commercial landlords out there got any advice?
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