Renter’s Insurance

I never used to require my tenants to obtain a renter’s insurance policy when leasing one of my properties; I just suggested it.  I figured it was a good idea to have but it was ultimately the tenant’s decision not mine.  The landlord is not liable for the tenant’s personal belongings in almost all cases of loss (unless it can be proven that the landlord’s negligence caused the damage), so why should I care?

Well after years of owning many rental homes in blue-collar neighborhoods, I have changed my views and now require all new tenants to obtain a renter’s insurance policy as part of the lease agreement.  In many cases it’s only about 50 cents a day.  Check out this link for a good overview of the benefits of renter’s insurance to the tenant.… Read the rest