Is there insurance available to cover the cost of malicious/wilful damage and/or tenants leaving without paying rent (after using up all the bond money).Any advice would be greatly appreciated.

A simple first-right-of-refusal" would probably accomplish that and you'll have no problems with the FAST Act or CFPA in doing so.

Actually, I think its a pretty typical reaction to a few bad actors.

[disclaimer] The views and opinions of the actors are not necessarily the views and opinions of BiggerPockets, its advertisers or affiliates.

So, if you have that money and have the credit an income to support the loan, that might be a better option.There are some bad actors who use lease options to do bad things.

Im sorry I don't recall meeting you Tim Wieneke, but your picture looks like an actor.

Stirling,You forgot to mention, but you are also an actor, director and a producer...

i won't allow my tenants to have a literal $50 insurance deductible which will potentially leave me holding the bill for their maliciousness. great example given too ralph. i certainly hope michael will re-look at his current policy. it can ultimately lead to disaster if not!

He's not Will Smith, but he's not bad for a non-actor.

. $200 excess per claim, and covers the Landlord against Malicious Damage & Rent Default.