3903J
3903J pertains to damage to personal property and includes three different types of damages:
1)Cost of Repair
Cost of Repair or Restoration: If the plaintiff can prove that the cost of repairing or restoring the damaged property is less than the reduction in the property’s fair market value due to the damage, then the plaintiff can recover the cost of repair or restoration.
For example, if a property owner’s fence is damaged and the cost to repair the fence is $2,000, but the reduction in the fair market value of the property is only $1,500, the property owner can recover the full cost of repair or restoration ($2,000) as damages.
2)Reduction in Fair Market Value
Reduction in Fair Market Value: If the plaintiff cannot prove that the cost of repair or restoration is less than the reduction in fair market value, the plaintiff may recover the amount of the reduction in fair market value caused by the damage.
For example, if a property is worth $100,000 before it is damaged and the damage reduces its fair market value to $80,000, the plaintiff can recover the difference of $20,000 as damages.
3)Reasonable Rental Value:
Reasonable Rental Value: If the damage is to rental property, the plaintiff may recover the reasonable rental value of the property during the time it is unavailable for rent.
For example, if an apartment unit is damaged and cannot be rented out for two months, and the reasonable monthly rent is $1,500, the plaintiff can recover $3,000 as damages.
Not always mutually exclusive
It is important to note that these damages are not always mutually exclusive. For example, if a property is damaged and the cost of repair is $5,000, but the reduction in fair market value is $8,000, the plaintiff can recover the cost of repair ($5,000) and the reduction in fair market value ($3,000) as damages.
Reasonable Certainty
It is also important to note that the plaintiff must prove the amount of damages with reasonable certainty. This may require expert testimony, such as the testimony of a real estate appraiser to establish the fair market value of the property.
