Is it necessary for the owner to file vacancy claims or special claims for damages?

Filing vacancy claims or special claims for damages is essential for owners of multifamily housing units to protect their financial interests. When a unit becomes vacant, the loss of rental income can significantly affect cash flow, and vacancy claims help reimburse landlords for this loss. Special claims for damages also provide financial support when a tenant leaves a unit in disrepair or needing extensive cleaning, covering the costs that exceed normal wear and tear.

Doing so allows property owners to take advantage of available resources and assistance programs that can alleviate the financial burden caused by vacancies and damages. Furthermore, these claims help ensure that the management can maintain the property and its value over time. Not filing these claims can leave owners financially vulnerable and unprepared to address issues that arise when a unit is vacant. Therefore, actively pursuing these claims is an important part of responsible property management.