We have adopted this policy in Washington as well.

If the landlord policy is to require income of, say, 42% (or 38% or 33%) of rent costs... then there is sufficient grounds to deny based on income if the applicant can't meet the landlord's policy.

if landlording just 1 or 2 properties, get a personal umbrella insurance policy; much cheaper than doing an LLC.

Admittedly I only checked with one company after realizing that getting a renter's policy was more economical for that residence.

I try to hire a general contractor which claimed have all required insurance and bond.I am a little concerned do to I see the bond amount only $10,000. and his insurance is a businessowners policy and looks like he used his home as insured address.The link to his insurance copy: http://www.fileswap.com/dl/JZwaeMVqTi/liability.jpg.htmlI also have question on what is the bond used for and the liability insurance?

:mrgreen: I am sure I have had plenty over the years in some of my ghetto places, I know it is wrong, but I embrace the don't ask don't tell policy!

Do you have an umbrella policy for coverage?

These are our policies and everyone must follow them.

You close with a loan, and a title insurance policy etc.

Some lenders will let you pick the title company if you pay for title policy.