Does Your rental property insurance cover code ordinances?

Building Code Ordinance Insurance Coverage

If you or your client have an older multi-family property, it was built to be compliant with the codes of that time and may not be compliant with current codes and ordinance or law changes.

If your or your clients’ building suffers a loss or damage, it may now be required for the building to comply with current codes and ordinances during the reconstruction. Basic insurance policies may not cover the expense of bringing the building up to current code and would come directly out of your or your clients’ pocket.

However, if your insurance policy includes Building Code Ordinance Coverage, (also known as “Ordinance of Law Insurance” and “Code Upgrade Insurance”) the building may be covered for the increased costs of construction to bring it up to current code.

If you think this could be of interest to you, I have included a link HERE to give you more information.

Ask the insurance agent if building’s policy offers it or if it would be a good idea include on the investment properties.

As you know, the time to find out what your insurance won’t cover is before the time you need to use it.

** Please note, I am not an insurance agent and do not have any ties with insurance agents. This is only to have a conversation started with your insurance agent about what you may want to include in your investment property insurance coverage.

Sandy, you've done an amazing job getting me "plugged in." I will certainly be recommending you!

Sandy at Bild a Better Business continues to amaze me with her expertise and generousity!

“Sandy Bild is the most efficient and effective assistant I have had the pleasure to work with. She is ALWAYS on time with assignments and is very proficient with her work. She is able to mutli-task and keep work-load running smoothly. One of the things I found most helpful with Sandy is that she keeps on top of my busy schedule and keeps me organized. She is self-sufficient and a self-starter. The experience she brings to the field is invaluable.”

“In the past 3 ½ years Sandy has worked with me, it feels no longer like it’s my business but it’s ours. Together we work perfectly as a team. I know my strengths and I certainly appreciate hers. Sandy has been able to take down my creative ideas and put them on paper to create what I believe to be an outstanding reflection of my business. She has given me the ability to focus on what I do best, sell real estate! Instead of me using my precious time working on the details of advertising, blog posts, researching the proper materials for keeping my clients informed, I count on Sandy for that task! Having someone who “gets it” and then put it into text and production is essential and she does that!”

“Chalk it up to Experience”

How many of you have gone through your real estate career having one time or another had to “chalked it up to experience”? As much as this may have stung, did you learn something from it?

Having been in the real estate business (residential and commercial) for over 20 years and recently property management, I gained a lot of knowledge and learned a lot of things. But at times, I just had to chalk things up to experience. And move on.
However, if you’re continually having to “Chalk things up to Experience”, it may be time to hire someone to help you.

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The storm lasted at least 45 minutes and kept raging and charging – twisting and twisting. We could hear the trees snap as the wind tore into them.

And then it was gone – an eerie silence.

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