Insurance for House Hack

[Brandon Johnson]

Hey BP Family,

I’m in the process of buying a Duplex for House Hacking and I’m curious to know what specific protections in my home insurance is recommended since I’ll be renting one of the units.

Also as a landlord should I require the tenant to obtain Renters insurance or just recommend (maybe even charge monthly for not having it??) ?

Any responses and advice will be helpful as this the beginning of my landlord journey and I have no experience.

Thank you,

[Michele Z.]

I can't answer about the insurance because I'm looking for those answers myself. The most I've found is to contact an independent insurance agent familiar with investors. Perhaps some will pop in on this thread.

But as to renters insurance that's an absolute yes. A must. You should have them list you as an "interested party" so that you get notified if they stop paying for it.  Additionally, if you choose to rent to people with animals, they must have liability as well. Then everyone is protected to a certain extent.