All Forum Posts by: Alex Schwartzman

@Account Closed 

 Thank you very much for your answer. 

Thomas B, Thank you for your reply. The property is in Indianapolis.

Thank you very much everybody for replying. I know that the renters insurance has been discussed several times here on the forum.  My original question is not about whether I should or should not require tenants to get renters insurance. It is required, it is part of the lease and the tenants put their signatures under it.  My question is more about compliance. Obviously the tenants violate the lease agreement. Is it valuation serious enough to push for compliance and threat them with eviction?  Or it is not a big deal and I should forget about that? Your opinions are greatly appreciated.

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.