Renters Insurance

Nov 12, 2015

 

The importance of renters insurance is spelled out in this blog.  An owners insurance policy does not cover a tenants belongings, nor does it protect the tenant in any way If a tenant or one of their guests is the cause of the disaster. It is important for tenants to have renters insurance that will cover all of their personal belongings as well as give protection in case of fault for damages to the rental structure.



Owners can require a tenant to purchase renters insurance. Be sure to check your state laws and guidelines as to the max amount that can be required. In Oregon, the maximum amount that an owner can require a tenant to have is 100,000.00 regardless of how much the home is worth. Some states require renters to have insurance to protect the tenants against loss. States that do not currently have this requirement may be changing it soon to protect the renters from having large claims against them if a disaster should occur.


Renters insurance is very affordable usually 10.00 – 15.00 per month. This coverage will protect them in many ways weather at fault or not. In the case where the tenant is not at fault for damages to the house such as fire started by faulty electrical or an act of nature like flood etc, their belongings would be covered through their policy. However, in situations where the tenants caused the damage such as fire from negligence etc. Their policy would cover them, their belongings and the owners structure. Without this coverage a tenant would still be liable for damages and could be sued by the owner for the loss. This coverage also comes in handy for tenants if an owner is requiring a tenant to pay for damages beyond wear and tear after move out sometimes the rental insurance policy will pick up such damages for the tenant.


So you can see why requiring renters insurance is a very good idea and will not usually be a “deal breaker” for tenants interested in renting a home that has such a requirement esp. when it is so affordable. Owners will want to disclose this requirement right up front and ask for proof of insurance when renters apply and ask for proof of insurance at signing. It is also important for an owner or manager to ask to be added on as an additional insured to the renters insurance policy so that they will receive renewal or cancellation notices when changes are made. If you would like to make this change and currently have tenants renting already, remember to wait until their lease term ends and give 30 days notice for them to prepare for the new requirement and provide proof.

 

damaged wall issue
By tricountymanagementllc 24 Aug, 2022
This is a subtitle for your new post
image of mop
By tricountymanagementllc 24 Aug, 2022
This is a subtitle for your new post
house
By tricountymanagementllc 24 Aug, 2022
This is a subtitle for your new post
mother and daughter
By tricountymanagementllc 24 Aug, 2022
This is a subtitle for your new post
painter on ladder
30 Mar, 2022
THE LABOR SHORTAGE AND ITS EFFECT ON RENTAL MANAGEMENT
vintage wanted poster
By tricountymanagementllc 11 Feb, 2022
Screening Applicants ~ The Single Most Important Thing You Should Do!
team working on laptop
By tricountymanagementllc 12 Oct, 2021
Adding & Removing Tenants On An Existing Lease
phone and laptop
By tricountymanagementllc 25 Aug, 2021
Collecting Rent During Pandemic & Rent Grace Periods
signing papers
By Appfolio Websites 12 Jun, 2019
Are you in the market for a new job? Whether you’re looking to follow a passion or start a new career the first thing you will need to do is work on your resume. When you’re applying for new jobs from apartments on Cable Ranch Rd, the resume is likely the first thing a hiring manager or recruiter will look at. Depending on how long you’ve been at your current job, there is a good chance it’s been a while since you’ve last updated your resume. We’re focusing this blog on resume writing tips to help you get the ball rolling and move forward in your career. Let’s make your resume shine with these three resume tips! When you finish reading through, please be sure to share the link to this page with your friends and neighbors at your Cable Ranch Rd. apartments! Keywords Before your application even makes it to a person it’s highly likely that it first goes through a computer program to analyze whether or not you’re a good fit for the position. Most companies do this to help narrow down applicants, so it’s important your resume hits what they’re looking for. That’s where the keywords come into play. As you draft your resume, incorporate phrases and keywords listed in the job listing. As you apply for different positions it is likely you will need to tweak your resume based on the specific job, but the foundation of the document will stay consistent. Just be sure you are keeping the copy fresh so your resume doesn’t look like a copy and paste of the listing! Use Active Language You want your resume to highlight your best accomplishments, while also being concise. Since these are typically written in chronological order, be sure to write in active voice for the section of the role you are currently in. It should look something like this — “I live at apartments on Cable Ranch Rd” instead of “I lived at apartments on Cable Ranch Rd”. Starting your accomplishments with verbs will help your resume stay concise and keep track of your tone of voice. Reference Performance Reviews It can be hard to know where to start when writing your review. If you’ve completed performance reviews at your current job, referencing those can be a great starting point. Performance reviews do a great job at reminding you of all the accomplishments you’ve had. Take the highlights and feedback from your colleagues and use it to your advantage to make your resume stand out. Best of luck on your job hunt! We’re so glad you were able to join us for this week’s blog, and we sincerely hope that you’ll come back in a couple of weeks to read our next post when it goes live on our website! Be sure to check back at the end of the month when our next blog goes live on our website. If you liked this week’s post and you want to see the next one right when we post it up on our website, we encourage you to bookmark our blog page. By doing that, you can guarantee that you’ll always be among the first to see new blogs right when they’re posted on our website. In the time between now and when our next post goes live, you can stay informed about everything happening at Echelon at Monterrey Village by following our apartment community on social media. After all, there’s no faster or easier way to stay informed about upcoming promotions, special events and exclusive giveaways going on at your community of apartments near 151.
woman
26 Mar, 2016
There are many reasons to hire a qualified and licensed property management company. These are some of the most common. Give yourself a break and let Tri County Management maximize the return on your investment and give you peace of mind.
More Posts
Share by: