I was wondering, what happens to rental properties if a whole city is flattened by earthquake?
I would assume my house would get destroyed and tenant would no longer pay rent.
Or if you have a apartment, whole block falls, making it unliveable.
now obviously with such large scale destruction, it could take years to rebuild.. especially apartment blocks.
Then what about the reduced rent you would possibly get due to lack of work following etc.. what a mess!
Where does this leave the investor?
I would assume landlord insurance would cover 12 months rent.. and then what?
I think some investors here with several properties, would become bankrupt from this.
Unfortunately with the frequency of these accruing, its a valid consideration to plan for.
I would assume my house would get destroyed and tenant would no longer pay rent.
Or if you have a apartment, whole block falls, making it unliveable.
now obviously with such large scale destruction, it could take years to rebuild.. especially apartment blocks.
Then what about the reduced rent you would possibly get due to lack of work following etc.. what a mess!
Where does this leave the investor?
I would assume landlord insurance would cover 12 months rent.. and then what?
I think some investors here with several properties, would become bankrupt from this.
Unfortunately with the frequency of these accruing, its a valid consideration to plan for.