A Little Attention Can Make A Huge Difference!
A Few Great Tips For Our Landlord Insurance Clients:
As your insurance intermediary, we are committed to help protect you and your property from the risk that matters most. It is imperative for you, as well, to be proactive and attentive as a landlord and keep an eye open to protect your big investment and responsibility.
It is unfortunately too frequent that we see issues in reference to the properties that we insure all over the country; mold damage, marijuana growth, and total loss fires are some of the few examples; it is too often that we witness some preventative action that could have avoided the mishap in the first place.
Some of these preventative measures could have been as simple as paying closer attention to the maintenance issues regarding your property or perhaps running an inexpensive online background check on potential renters in order to save a lot of time and money in the long run. In some States, it is commonplace to require renters to carry Renters Insurance; in voluntary States, irresponsible tenants would simply pass up the property prospect when asked to take a responsible step such as purchasing a low cost renters insurance policy.
The following are our 5 Quick Steps to save Landlords a big headache:
- Spend a little extra time to run a background check, and call employers to verify employment. (Do not rely on simply a paystub)
- Require a minimum one-year lease with proof of Renter’s Insurance as a condition of the lease. This will provide a solid rental prospect with a professional agreement.
- Maintain your property well at all times; well painted, well gardened, displaying pride of ownership and free of any potential hazards.
- Your neighbors will be a key to keeping an eye on your property since they live there and you don’t! They can keep you informed of any suspicious activity which may lead to potential issues.
- Inspecting your property should be a condition of the lease; we recommend a quarterly visit with your tenant at the property as well as at least a monthly drive by to assure that nothing looks out of order.
Landlords Insurance is also known as Hazard Insurance, Dwelling Fire Insurance or simply Fire Insurance; this insurance is a valuable contract offering peace of mind and protection for you and your property.