Here's What Every Landlord Needs to Know About Renters Insurance
Landlords have plenty of important duties to juggle when they’re working with tenants — and equally important concerns that come along with all the different management tasks they’re responsible for. They need to make sure tenants will care for their properties, pay rent on time and communicate effectively when issues crop up. Between screening tenants and making repairs, knowing whether or not a tenant has renters insurance may fall to the bottom of a landlord's list of priorities.
Although it’s intended mainly to safeguard renters’ belongings and protect them when they’re liable for certain damages, renters insurance in some ways protects a landlord as much as it does a tenant. Many landlords require tenants to maintain active renters insurance policies for several key reasons. If you’re a landlord, requiring your tenants to purchase renters insurance may prove to be a very worthwhile endeavor.