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Updated almost 8 years ago, 02/21/2017
Tenant refuse to buy renter's insurance
I am a novice real estate investor. 4 months ago I bought my first property in Indianapolis with tenants in place. The property managed by PM company. The lease agreement required a tenant to buy renters insurance. They have never did it. Each time when I contacted PM about this matter I received a reply saying that they push tenants to get it taken care of, but nothing happened. Today PM told me that the only option is to send a perform or quit letter threatening eviction if not completed by a certain date.
Obviously I don't like the fact that they violate the terms of the lease contract and it makes me wonder what other points of the contract they violate.
Should I pursue compliance? What options do I have?
Thanks.