FOR TENANTS

• Rent is still due and late fees may still apply. • A lease may be void if the unit is uninhabitable and a comparable transfer is not available. • Most renter’s insurance policies do not cover flood damage. • Residents who abandon their apartment may lose their security deposit and be held liable for future rent. For property managers and owners • Fair housing rules still apply. • Many residents will struggle with rent payments. Some owners will waive late fees, some may not. • When flooded residents transfer to dry units, it is recommended that all the parties cancel the first lease and sign a new one. • If a comparable unit is not available for transfer, management may offer a different unit at a different price. • If the non-comparable unit is refused, the resident may cancel without penalty, depending on the amount of damage. • Recovery work should begin almost immediately, subject to labor and materials availability and insurance company approval. • Management will typically make a courtesy call to notify absent residents that their belongings must be removed, but the lease allows that anything not removed may be disposed of without further discussion. • Management may put items in storage and charge the resident. • How quickly can units be brought back on line is a major concern. • Owners are not responsible for residents’ vehicles or personal possessions. • Owners of buildings taken out of service may cancel a lease with a five-day notice.