So I have a rental property - a condo - in a building that was damaged (fine in one unit, and then the units below that one soaked by sprinklers).
Insurance covered one year of lost income. But the repairs (which are just now finishing) stretched into a second year. I couldn't rent the thing if I tried.
What can I count as a loss? I've paid for management, maintenance, utilities, taxes, but also...mortgage, all of out pocket for an entire year. The HOA's insurance has paid to restore the unit, and my own insurance has paid for the first year of loss of income as well as other expenses I (obviously) won't claim (eg: appliances, which were trashed by contractors, etc).
So... aside from mortgage interest and taxes...can I claim any of the mortgage I've paid? (my rent used to be above what it cost to maintain the place, but I'm not asking about that amount, just what I've paid).
