Looking for sage advice as this situation is new for me. Major plumbing failure will need to relocate tenants for 2 weeks during repair. Insurance will only cover prorated loss of income. What is fair to pay tenants in compensations for this time. Hotel only? Food per diem? Inconvenience factor?
Tenant does have renters insurance ( required in my lease ) in which I could pay the deductible and it would cover the relocation expenses. However, I was wanting to keep tenant happy. My plan is to cancel rent for the affected days plus pay hotel, daily meal per diem.
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