Major water leak, only detected after neighbour's property flooded, has occurred at my rental property and I'm bracing for what I expect to be a huge water bill. Knowing what others have come up against may help me to prepare for it. (and yes, I could get the PM to go out and read the meter now, but I am curious about others' bills)
For starters, I'll share my most recent PPOR bill from earlier this year.
Undetected leak at block of 4 units brought about a $2800 water bill for each unit, essentially $8000+ alone for water usage for 6 months. Applied to council for consideration and the water usage component was reduced by 40%, with the final bill around $1300. (Figures not exact).
Had it been a house and not been a block of units, an individual owner would have had to wear all of that cost.
Now I've had the same thing happen in my IP.
I will apply for water relief but am concerned that I'll be the one up for a bill of that magnitude. Have already covered the $900+ to find and repair the leak under the concrete driveway.
Not feeling it is a good year for my IP.....
ps Does any insurance cover one for the something like this?
For starters, I'll share my most recent PPOR bill from earlier this year.
Undetected leak at block of 4 units brought about a $2800 water bill for each unit, essentially $8000+ alone for water usage for 6 months. Applied to council for consideration and the water usage component was reduced by 40%, with the final bill around $1300. (Figures not exact).
Had it been a house and not been a block of units, an individual owner would have had to wear all of that cost.
Now I've had the same thing happen in my IP.
I will apply for water relief but am concerned that I'll be the one up for a bill of that magnitude. Have already covered the $900+ to find and repair the leak under the concrete driveway.
Not feeling it is a good year for my IP.....
ps Does any insurance cover one for the something like this?