Insurance on rental property

[matarese25]

Hi - i am trying to get some information on how does insurance work in case of rental property. The house I am about to rent with tenants moving on the 1st is insured as I lived there for the last few months renovating and getting it ready.

Does the "regular" house insurance apply even though the property is now rented out?

Do I require tenants to get insured? If so what is the best way of going about it? Any companies recommended to use that insure tenants?



Regards



Peter

 

[kfort]

- Up your liability insurance.

- yes tenants NEED to insure their belongings

- check your policy, I like to maintain a MINIMUM of 18 months loss of income coverage

- get confirmation that tenants have coverage for belongings either before you hand over the keys or shortly after. and put it in your lease that they must do this
Also, this is not nearly an exhaustive list of considerations
.