Renter's Insurance

[Mark Smith]

Is it recommended that I have something in the lease suggesting, or requiring, renters to obtain renter's insurance?

[Travis Lloyd]

@Mark Smith I include a specific declaration statement on the lease informing them that our insurance does not cover their belongings, or their accommodations during emergencies. This same paragraph explains that a renters insurance policy would cover these exact things for them, and strongly suggests that they get their own renters insurance policy. The tenants have to sign that section - and I verbally make a big deal out of it to stress how important and cheap it is.