A landlord asks about requiring tenants to carry renters insurance as the question this week for veteran landlord and property manager Hank Rossi.

Dear Landlord Hank:

Do you require your tenants to carry renters insurance? If so do you require them to add your name to the policy?-Chris

Hi Landlord Chris,

We don’t normally require a tenant to carry renter’s insurance but we strongly advise tenant to do so, in the lease.

There is a paragraph devoted to telling the tenant that the insurance the owner carries is for the building, and does not cover the tenant, and they could lose everything through a natural disaster, fire, bursting pipes, criminal acts, etc.

We ask to be notified if a tenant is going to buy a renters insurance  policy, and then we do require that the owner is listed on the policy, as an extra layer of liability protection, for the owner.

Sincerely,

Hank Rossi
Each week I answer questions from landlords and property managers across the country in my “Dear Landlord Hank” blog in the digital magazine American Rental Property Owners and Landlord Association.  www.arpola.org/blogs

Other recent Dear Landlord Hank posts you may have missed:

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How Do You Raise Rent For A Long-Time Tenant?

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 Where Do You Draw The Line On Normal Wear And Tear?

Dear Landlord Hank: Do You Conduct Rental Inspections? How Often?

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Do you require tenants to carry renters insurance?cannot pay rent

Landlord Hank at work on one of his properties