Here is my big problem: My company purchased in Romania a company called Elaro. Elaro rents FROM an ex-State company around 2000m2 of retail shops for 10,000$ per month and for the next 30 years. Elaro rents to premium tenants all shops at 35,000$. At the expiration of the rent contracts in 2009, Elaro can even increase rents to 60,000$ per months. So Elaro makes a profit of 300,000$ per year now and from 2009, it will make 600,000$. My risk is that the block of flat may at anytime burn or be destroyed by an eathquake. All insurance companies in Romania told me I have to be the owner to be able to insure or get owner approval for that. I can not get any of these. I am serious about that issue.
2006-06-07 11:43:53 · 4 answers · asked by walid abboud 1 in Business & Finance ➔ Insurance
Sorry.
Since you are not the owner, should the building be destroyed, you will not loose something that you have but the opportunity of a profit.
Insuring an object that doesn't belong to you makes no sense, like I would ensure J Lo's behind and get rich if she gets cellulite.
Maybe you can ensure Elaro's profit if this is an option in your country since I suppose it's too late to stipulate in your contract with the ex state comp. the obligativity for them to ensure the building and compensate your loss in the event of a disaster.
2006-06-12 03:16:27 · answer #1 · answered by arwen e 1 · 0⤊ 0⤋
You should look at the Yahoo Romania page.
2006-06-07 11:45:04 · answer #2 · answered by Anonymous · 0⤊ 0⤋
that's a big problem.....
thanks for the 2 points!
2006-06-07 11:44:57 · answer #3 · answered by basketcait 2 · 0⤊ 0⤋
how did you buy it without discussing this issue with the prior owner?!?! are you that dumb?!?!
2006-06-07 11:46:28 · answer #4 · answered by Shopaholic Chick 6 · 0⤊ 0⤋