Renters Insurance

[Chris Benson]

Hi everyone

Renters insurance. Do you require or suggest it for your renters?

[Bryan O.]

I require it. It costs very little and provides coverage for all of their goods, but more importantly for other bad stuff. If a pipe bursts and destroys all their goods, it's their insurance. If they accidentally burn the house down, probably on them. If a tree falls and they need to be in a hotel for a month, it's on them. If they throw a party and someone hits their head and sues them, it's probably on them. Basically, you reduce the risk of using your own insurance and increasing your premiums. It also gives them a sense of their own security.

If any tenant can afford one of my units (only C+ neighborhoods) and not the $10/month for renter's insurance, they can't afford my unit.