While rental properties may be a good investment, they can also be a headache and a liability if the risk is not properly managed. While current real estate market conditions allow investors to buy properties at low prices, insurance companies may require you to insure them for much more than what you paid. So, what is the right coverage limit? We can help you select the right coverage for your building, loss of rents, and liability.
Important considerations to minimize your risk include:
- Have a professional review your lease before tendering to a potential tenant.
- Perform a background check on potential tenants and contact prior landlords.
- Inspect your properties several times a year, both inside and out.