If someone told you there was a single paragraph you could add to your leases that could save you thousands of dollars and give you significantly greater peace of mind, you’d add it, right?
Well, there is: It’s a clause requiring tenants to carry renters insurance and showing you proof of an active policy. If you don’t already have such a clause in your leases, I recommend adding one as soon as you’re finished reading this article. Here’s a look at why requiring renters insurance is such a savvy move for landlords and property managers and how this policy can protect you.
As most landlords and property managers know, the insurance they carry on their building does not cover their tenants’ belongings. But renters insurance goes beyond protecting furniture and clothing in case of damage.
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.