The first thing you should do is review the condo bylaws and the corporation's insurance.
The most-important thing to know is that they can't charge you more than the cost of the corporation's insurance deductible -- even if they choose not to make a claim. Check the insurance certificate (which they should send you every year when it renews) to find out what the deductible is.
In the bylaws, there may be a clause under "Insurance" that reads something like this:
Quote:
|
In the event an owner incurs or suffers damage or loss to the windows or doors (which constitute part of the unit) or to any interior finishing or improvements of his unit and/or the common property adjacent thereto that is covered or insured under any insurance policy of the Corporation and such owner elects to pursue recovery of such loss or damage under any insurance policy of the Corporation, such owner shall be responsible for and pay the full amount of any deductible on such claim if, in the sole opinion of the Board, such damage or loss was caused by or arose out of any act or omission by such owner, his servants, agents, licensees, invitees or tenants.
|
The last part is very important: "damage or loss was caused by or arose out of any act or omission by such owner, his servants, agents, licensees, invitees or tenants". That makes it a question of did you (or your tenant) do something (or fail to do something) that caused this damage to occur? A leaky dishwasher is often given as an example for damage that would not qualify as an "act or omission" on the part of the owner/tenant (unless it was improperly installed or installed without approval).
Definitely send the information to your insurance company and let them advise you as to the next steps to take.