When you rent your property to others, there are many risks that may be covered by rental property insurance.
The policy every property owner needs when renting.
Rental property insurance is a specialty home insurance policy for the property owner rather than the tenant. It’s similar to a home insurance policy but is designed to account for the differing risks that you face when you rent out a property rather than living in it yourself.
What does rental property insurance cover?
In addition to the damage to the building itself and your personal property (such as included furniture), a rental property policy may cover lost income if damages to the property prevent you from renting it out for a period of time. The policy may also often include coverage for liability issues you might face if a tenant sues over injuries suffered while on the property.
What’s not covered by a rental property policy?
One point to watch is the fact that policies usually don’t cover loss of income if a tenant fails to make rent payments or the costs of evicting a tenant if necessary.
Can you insure short-term and long-term rentals?
Whether you are renting out your home for a short period of time or for months or more at a time, you’ll need to have different coverage for your property.
Helps cover the risks involved with renting out a property.
When you rent out your property, there are always going to be risks that are unexpected. That’s why rental property insurance is key. Other covered risks may include any costs you have to pay to move a tenant in or out of the property during repairs and any compensation you have to pay to a tenant if damage puts heating or air conditioning out of action.
If you have any questions about rental property insurance, contact us to learn more.
Apartment FAQS
What is included in the rent?
Rent typically includes your apartment home and access to community amenities. Utilities and services included vary by property. Please contact the leasing office for specific details.
What lease terms are available?
Lease terms may range from month-to-month to 12-month or longer agreements, depending on availability and community policies.
Is there an application fee?
Yes, an application fee is generally required for each applicant over 18 years of age. Fees cover background, credit, and rental history screening.
What are the income requirements?
Applicants are generally required to demonstrate a stable income that meets the property’s qualification criteria, typically a multiple of the monthly rent.
Are pets allowed?
Many communities welcome pets, subject to breed, weight, and quantity restrictions. Pet fees, deposits, and monthly pet rent may apply.
Is renter's insurance required?
Most apartment communities require residents to maintain renter’s insurance throughout the lease term.
How do I submit a maintenance request?
Residents can submit maintenance requests through the resident portal, by phone, or by contacting the leasing office directly.
Is parking available?
Parking options vary by property and may include open parking, reserved spaces, garages, or covered parking.
What is the policy on guests?
Residents may have guests; however, extended stays may be limited by the lease agreement.
Can I transfer to another apartment within the community?
In many cases, transfers are permitted based on availability and community policies. Transfer fees may apply.
What happens if I need to end my lease early?
Early termination provisions are outlined in the lease agreement and may include notice requirements and associated fees.
Are apartments smoke-free?
Many apartment communities are entirely smoke-free or have designated smoking areas. Check with management for specific policies.
When is rent due?
Rent is typically due on the first day of each month. Late fees may apply if payment is not received by the specified deadline.
How do I pay rent?
Rent can usually be paid online through the resident portal, by ACH transfer, check, money order, or other approved payment methods.
What amenities are available?
Amenities may include a fitness center, pool, clubhouse, business center, walking trails, dog park, package lockers, and m
How do I apply for an apartment?
Applications can typically be completed online or in person. Supporting documentation such as identification and proof of income may be required.
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