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Updated about 7 years ago on . Most recent reply
Rental peoperty insurance for LLC
All,
I am new to rental investing and a new member at Bigger Pockets. Recently I purchased a rental property in my area and everything went well, property is already rented and providing some cash flow. I did little Rehab and got insurance on the property. Few weeks after, I transferred the deed it to an LLC and went back to my insurer with the update. They mentioned this property now needs to be treated under commercial terms and they gave me reference of some local agents. Many of them are asking when the plumbing, electric, roof etc. was last updated with some evidences and documentation. I bought the property as-is with no documentation, so not sure where/how to go about this? Appreciate the insights from fellow investors on the forum. Also, would appreciate the name/contacts for renter/LLC friendly insurance companies.
Thanks,
Dev