Permits and insurance issues

[Reya Ripet]

Hi all.

I am stressing out here. So recently they introduced the requirement for landlords to need "landlord permits".

I am also dealing with difficult insurance that are cancelling policies with minnimal reasons and no chance to correct maintenance issues.

I always deal with tenant complaints as soon as they come up, and keep well maintained properties.

So, now my insurance won't add "law and ordinance", which I think is going to be needed because of these stupid permits? The permits also include an inspection every four years.

My concerns are , why won't insurance offer "law and ordinance"? 

Is there a chance these permits are denied , even when I take care of all maintenance needs that come up from both tenants and inspections?

Is "law and ordinance" really needed with these permits?

I am sooo fed up dealing with insurance and never ending maintenance for little profit.

Remember, the WEF said " you will own nothing and be happy", at some point many landlords will give up , and tire too much.

It's not unthinkable to think that insurance companies and counties conspire to make landlording unafforable.

please someone answer my questions as I'm becoming very weary.

I'm in Alachua county Florida btw, not Orlando

Thanks

[Richard F.]

Aloha,

It sounds like you are shopping specific insurance companies. Try to find an Insurance Broker that has access to multiple carriers; sometimes multiple carriers for the multiple coverage's (comprehensive; hurricane; liability; flood; etc.) you might need. Also be sure you are getting landlord insurance for any rental property, not homeowner.

Although the specific terminology you mention may be a regional thing, I believe what you are referring to is "ordinance of law" which actually does provide significant benefit to you. If you are insuring an older home, and the building codes have changed over the years, in the event of a catastrophe, it will cover the cost to, for example, upgrade the entire electrical system to current standard; or upgrade windows to hurricane standards; etc.