Offering a discount to tenant for having Renter's Insurance

[Nick C.]

Has anyone ever done this? I know lots of landlords require renter's insurance. Maybe offering a discount on rent would attract more tenants? Or maybe charge a rental rate higher if a tenant refuses to get renter's insurance. I would think in this case they would all take the insurance over higher rent... 

[Thomas S.]

It does not matter to you if they have insurance coverage on their belongings or not. Your primary requirement is liability insurance and should be mandatory not optional. If they refuse you do not rent to them. You do not give discounts for mandatory requirements.

There is no relationship between insurance and rental rates.