The right insurance can make all the difference in protecting your rental property.
Landlord Insurance - When you purchase a rental property you will also need to purchase insurance to cover it. Homeowner's insurance will likely not cover what a landlord's policy will. You will want to do your homework, not only on what will need to be covered, but also on the best types of insurance to invest in.
Renter's Insurance - Landlord insurance will handle the property itself and anything that you supply with it, but it won't cover the possessions that you tenant brings in with them. Requiring your tenant to purchase renter's insurance is an excellent way of protecting both your own investment and theirs.
Explaining Renter's Insurance to Your Renter - While renter's insurance may not cost a great deal (and can save them a lot of money if the worst happens!), your tenant may not understand that if they've never purchased it before. If you need a few key points to sell your tenant on the idea, check out the article above.
Before renting out your property, you should purchase a landlord insurance policy. Unlike a homeowner's insurance policy, a landlord insurance policy will protect you from common... More
Owning a rental property means that you are a business owner and property owner at the same time. Because of this, the owner must be aware of key rental property deductions that you can take every... More
Despite the best efforts of a tenant or a home owner, sometimes very cold weather can cause even the best pipes to freeze. When this happens, the issue can be fixed, but it is going to take some time.... More
Selling a rental property with tenants may be very straightforward; having a tenant in place can make for an unpleasant selling experience. Most real estate professionals will recommend allowing a... More
Professional licensure requirements in the United States are intimidating to many novice property managers. Many times, if a property manager is working for a larger company, the company will make... More
Social media has become a powerful tool for property owners, providing a platform for targeted, direct communication between potential clientele and landlords. Just a few of the nifty features social... More
Evictions in New York City generally fall into two distinct categories, and each has its own process that must be followed precisely by the landlord. The most common reason for eviction is nonpayment... More
Seasonal rental trends may make you concerned about maintaining your overall cash flow and minimizing vacancies. One way to prepare for slower seasons is to look at your property marketing strategies... More
When you've found reliable tenants, you want them to stick around. Flipping your rental unit can be both a hassle and an expense; in addition to seeking out new tenants, you also need to ensure... More
It's frustrating to enter into an off-season if you have properties empty. The end of the year is one of the biggest slow seasons, but any time of the year is fair game for vacancies. Leases end... More