Good afternoon,I am renting out my first property and it seems like it is important for me to require renters insurance from the tenant.What would you say to a tenant as to why having renters insurance is a benefit to them?

I wish I knew all of this sooner, but I guess better late than never.

Depends on the reasoning, how many lates? 

In my personal experience banks require the 20% to be of your own funds and must be on your late 2 bank statements or rigorously explained.

Hello Isaac,I think your about 5 years too late property values and taxes have skyrocketed.

I’m seeing this discussion 2 years late, but still found it very helpful.

Lately, city has been more flexible for high density zoning.

This will tell you if the tenant has a history of being late and if they are current on their rent

Tenant paid last month ~ 20 days late, and short paid, and still hasn't paid this month (it is now the 21st), so they are basically 2 months overdue.  

Madison also has had tons of development lately in higher end apartments too so stay away from anything that would compete against them.