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Burned House by rosebud (NY) on May 16, 2018 @15:31

Inspector in Dayton OH says my burned rental house must be razed. Do I have to pay? Also can I keep land or will city take it?
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Re: Burned House by NTT on May 16, 2018 @16:24 [ Reply ]
This isn't really a question for the landlord/tenant board. You need to ask the city those questions.
Re: Burned House by Garry (Iowa) on May 16, 2018 @16:36 [ Reply ]
Talk to the inspector and/or his/her boss as to how badly damaged it is. Call your insurance company and tell them about the fire. The ins.comp. will send out an adjuster/inspector of their own, and tell you how much they will pay you for your loss. Between you, your ins. comp., and the city, you will all need to come to a conclusion as to what to do. But it may take 30 days to figure all that out. In general, your ins. comp. will pay xxxx amount for your loss, and you will need to decide if it is able to be rebuilt or not. If you own the property, you can keep it, but it may end up as just a piece of vacant land with no structure on it. Which means no structure on it to give you income. Your "income" will be whatever the ins. comp. pays you. If it can't be rebuilt, you will have to pay to have the place torn down and removed, and the hole filled back in. That amount will come out of your ins. proceeds. At that point, you can try to sell the vacant land, as you will continue to pay property taxes on the value of a vacant lot in that neighborhood, and also have to keep it mowed every 2 weeks.

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