 Damages by tenant (by Roy [FL]) Jul 22, 2018 10:34 AM
 Damages by tenant (by S i d [MO]) Jul 22, 2018 10:57 AM
Damages by tenant (by Ken [NY]) Jul 22, 2018 10:58 AM
Damages by tenant (by WMH [NC]) Jul 22, 2018 11:05 AM
Damages by tenant (by WMH [NC]) Jul 22, 2018 11:17 AM
Damages by tenant (by Robert J [CA]) Jul 22, 2018 12:03 PM
Damages by tenant (by Roy [FL]) Posted on: Jul 22, 2018 10:34 AM
Message:
My tenant damaged my laminated wood flooring. I can't find anything to match it to replace the damage portion approximately 4 ft by 6 ft. I also can't find who can repair it, and even contacted Home Advisor. They provided website, but most of them are sales and installations I ended up buying 434 sq ft of laminated wood floor to replace the entire living room. I just don't know how much should I charge my tenant. I wanted to be very fair but don't know the amount to charge my tenant. I found some good bargain from Lowe's and can have someone install it for about $500.00. I would say it will cost me approximately $1100.00. Any suggestion or anyone have this problem before. Pls advice. --24.129.xxx.xx |
Damages by tenant (by S i d [MO]) Posted on: Jul 22, 2018 10:57 AM
Message:
I charge replacement cost. Others will disagree and/or cite concepts such as depreciated value. You know my philosophy: depreciation is a TAX concept that has little to no basis in reality. Regardless, to quote my friend, Brad 20K... "timid land lords raise skinny kids".
Having read about your tenant market, I doubt they'll be able to pay even if you only charged depreciated value to replace the spot they damaged, and your kindness/fainess will be spit back in your face....so in the end this whole conversation may all be academic. But in my mind, shoot for the stars and if you fall short maybe you at least hit the moon. Who knows if you farm it out to a good collection agency you may some day recover part of your loss.
P.S. Your lease needs to be amended to cover what happens in a situation like this so there are no doubts in the future.
P.P.S. This is why we no longer use laminate. Allure or other resilient flooring that can be easily repaired only. I "fixed" a spot on my personal living room floor two weeks ago where we had an accidental gouge from moving a piece of furniture. One 3 foot by 6 in piece of Allure (about $5), a hair dryer, and about 10 minutes of my time and it look BRAND NEW! --173.19.x.xxx |
Damages by tenant (by Ken [NY]) Posted on: Jul 22, 2018 10:58 AM
Message:
I would charge what it cost to replace,if the whole room had to be replaced so be it charge him for the whole job.Someone will come on and tell you to depreciate it but I think that is ridiculous and just a tax concept,if he didn't damage it then it would still be just fine and not need replacement --72.231.xxx.xxx |
Damages by tenant (by WMH [NC]) Posted on: Jul 22, 2018 11:05 AM
Message:
We had the same issue. Damage in the middle of the floor, no way to patch, had to re-do the floor. Found this out:
How old is the floor? You will have to depreciate the original flooring and figure out the remaining life vs. what it cost to begin with (not the replacement cost.)
Hardwood, tile, glued-down carpet are considered part of the building and are depreciated at 27.5 years of life. This works against us at installation, but for us when calculating remaining life to charge to tenant damages.
FLoating Laminate seems to be trickier because it is not glued down, but can't be easily removed and used someplace else, for instance. It's much more durable than tacked-down carpet, though, and that is depreciated at 5-10 years or more, depending.
You can charge for the labor to replace it, but whether you can charge off the new flooring depends on how you depreciated the old when installed. Ask your CPA. --50.82.xxx.xx |
Damages by tenant (by WMH [NC]) Posted on: Jul 22, 2018 11:17 AM
Message:
Oh and one more thing: any repair $2500 and under can be written off in the year it is placed in service these days.
Sid, you may think it is just a tax idea, and I would have agreed with you in the past, but it appears NC's judges are not stupid and don't allow a Landlord to ding a tenant for, say, the full cost of 10 year old carpet...
Age DOES matter when it comes to flooring. --50.82.xxx.xx |
Damages by tenant (by Robert J [CA]) Posted on: Jul 22, 2018 12:03 PM
Message:
I had tenants that damaged a section of laminate in the living room. I had purchased and stored many extra boxes in case of such an event. I had given my tenants a move-out inspection and asked them to pay for the materials plus $200 for my labor. Their deposit had been already used up. I was asking for a total of $300 (parts and my labor) and they declined. Knowing that I can't get paid back for my labor in small claims court, I hired a flooring company to remove and replace the damaged section. Total cost was double, $600.
I then sent a demand letter and followed it up with a court case. They were upset that I was now charging double -- which was my real cost having someone else do the work. Why should I do the work for free? --47.156.xx.xx |
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