I bought my own place about a year ago and recently did a termite inspection. I don't have any termites... WHOO HOOO! but they found water rot and in some places of the exterior. The property is a condo with a HOA. HOA has a hazard insurance and I also have insurance on the interior. Who is responsible to fix the rot? HOA or me?
2006-12-03 04:51:42 · 1 answers · asked by Bobby T 2 in Business & Finance ➔ Renting & Real Estate
First off, insurance generally does NOT cover gradual deterioration such as termites or water rot. If the rot is in a common use area, the association is responsible. If it's in an exclusive use area, it's up to you.
You may need an attorney to help sort out responsibility. The exterior of the building is usually the responsibility of the association but the exterior of YOUR unit may be a grey area especially if there are no local laws (or association by-laws or rules) that clearly spell out responsibility.
2006-12-03 05:38:50 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋