We all love to improve our residence or real estate investment. However, one of the worst nightmares of a homeowner is if your property has water leak issues. You either will see the progressive resultant damage or you will see the potential loss of your income, if you hear your tenant threatening to end their rent agreement, should the issue not be resolved within a reasonable period of time. In either situation, as a home owner, all you want to do is resolve the issue as soon as practicable. Strata enthusiasts, in this episode we will share with you 5 ways to resolve a water leak issue. 1. Determine where the water leak is coming from
Unless you are a building expert, you should probably not make your own assessment of where the water leak is coming from. Engage a building consultant to prepare a report for you. The report details the source of the water leak including the damage caused and will be caused in the future if the water leak issue is not rectified.
2. Determine if the water leak runs only on private property or includes common property
It is important that you hire the right building consultant expert who could determine if the water leak runs only through private property or if it includes common property. This is important because it will help guide you on how to effectively approach your strata community to help you resolve the issue. If the water leak only runs through private property, you could request your strata community to enforce the bylaws or rules. On the other hand, if the water leak runs through common property, you could require the strata community to stop the water leak and rectify the damage caused to your property. 3. Seek expert advice to temporarily stop the leak
Whilst you are communicating with the different parties (whether it is another lot owner or the strata community) you should seek expert advice on how to mitigate or prevent further damage from occurring to your property, by temporarily stopping the leak.
4. List the damages caused to your property and obtain a rectification quote
After getting an expert advice on where the leak is coming from, make a list of the damages caused by the water leak to your property so that you could inform the relevant parties what should be rectified after the leak is stopped including the rectification costs.
5. Be open to negotiate The worst position that you could find yourself in, is if you spend your time arguing with the other parties on who should rectify the leak. Be open to negotiate a resolution to your leak issue. Of course, we do not encourage that you accept any offer made. You should accept a reasonable offer. When you reject an offer, you should reply with a reason why their offer is rejected and provide an offer that you will likely accept. These are the 5 ways to resolve a water leak issue. Having a water leak issue is not a walk in the park. That said, strata enthusiasts, if you follow these steps, you will be better equipped in dealing with the issue. Until next time strata enthusiasts, remember – continue upgrading yourself.