If you can get the tenant's info from the HOA, or feel comfortable knocking on their door, you also might want to both try to assess where the leak is coming from - in case it is an ongoing issue, such as water coming out from a shower and seeping under the tile or linoleum upstairs, or a refrigerator icemaker line leak.
You can also read the MASTER insurance policy from the HOA and see if it covers any of these types of issues - or ask for a copy of the policy and give it to your insurance agent so he can determine the actual MASTER HOA coverage - see if any costs should be covered by the HOA, and draft a proper supplemental policy for you.
Many condo buyers do not realize that the fire/hazard insurance in most MASTER policies covers rebuilding of the structure & common areas but does not cover the cost of rebuilding the interior: cabinets, plumbing, not to mention replacement costs of your personal belongings. That is why these supplemental owner's policies are so critical to have.
I hope this info helps.
I would contact the homeowner upstairs. Try to collect on his insurance. If that fails, collect on your own insurance. If that fails, fix it yourself. The HOA will not have insurance for your inside damage. Besides, if the HOA did pay, you are paying for it yourself as you are the HOA.
Work very quickly to prevent mold. Once that happens, it is a time to remove everything affected and rebuild inside. Many insurance policies will not pay for the mold redemption if you wait. Check your policy. Check you upstairs owner policy.
Get the water issue fixed and then figure out who is paying for it.
Remember that when you sell, if in Nevada, you must disclosed that there was water damage in the unit.
I hope that helps.
New Web Sites:
Please contact me immediately if you know a person that cannot make their mortgage payments. I will work with them to avoid foreclosure or bankruptcy at no charge or fees to them.
Steven Goldman, CRS
Certified Distressed Property Expert (CDPE)
Certified Short Sale Professional (CSP)
GRI, ABR, SRES, CNHS, PM, CCI
Realty One Group
Las Vegas, NV 89135
I hope that helps.
One Source Realty and Management
Cell - 702.501.0973
Website - http://matthewsellslasvegas.las.mlxchange.com
The person responsible for paying for the water damage to the ceiling depends on how the leak was caused.
If the tenant upstairs was negligent and caused the leakage then it would be his responsibility.
If it is not caused by the tenant above then the HOA should have the repair work performed at their expense. It should not be the home owner with the damaged ceiling who pays.
Hope this helps.
Prudential Connecticut Realty
David Cooper Foreclosure Specialist at Sinve 1917 Realty, Las Vrgas 35 Years Investing Experience. Receive a FREE List of Low Priced, Bargain Homes in Good Areas with Great Cash Flow 10.0%+ CAP RATE. Go To http://www.lasvegaswinner.org or Call +1-702-499-7037
It all depends on the CCRs. If it is a tub overflow, dishwasher leak, etc from the upstairs owner, it is their issue. If it is a broken pipe, it could be the HOA or the upstairs owner, or you. It depends on how the CCRs and other docs were written.
Southern Nevada Property Management
8871 West Flamingo Road Suite 202
Las Vegas, NV 89147