Monthly Archives: August 2009

What Every Landlord Needs to Know About Renters Insurance

WHAT EVERY LANDLORD NEEDS TO KNOW ABOUT RENTER’S INSURANCE

By David Rush, Kistler Financial Group Inc.

Apartment for rent photoRenter’s insurance is a “must-have requirement” for every tenant, especially in today’s litigious world. 

 

 

WITH A RENTER’S INSURANCE PROGRAM, YOU CAN …

  1. Significantly reduce your liability risk.  When someone is injured on your property, both the renter and the landlord may be liable.  If your renter’s liability is covered by insurance, your liability as landlord could be significantly reduced.
  2. Help your renters’ protect the value of their personal property, which in turn can reduce or eliminate any claim against the landlord for property damage. This is the renter’s best bet for recovery after a catastrophe, like the California fires. 
  3. Help your renters find great coverage, with quick, easy enrollment and low rates. Renter’s insurance is available for less than $.50 per day (based on the national average).  Often coverage can begin by 12:01 AM the day after they call and make payment. 

Find more on renter’s insurance by contacting Kistler Financial Group Inc. or through www.american-apartment-owners-association.com

Tenant Screening

Fotolia_493619_lease

A bad tenant is like a mother-in-law who just won’t leave – only worse!  Evictions are a slow, painful process, and the damage may be done before you can undo your bad decision.

 Don’t hand over those keys until you have checked:

Credit Reports are not the only way to judge a tenant, but they do show, at a minimum, the applicant’s ability and willingness to commit to financial obligations.

Eviction History shows you what a current landlord reference might not – especially if they are eager to unload their problem tenant on you.

Criminal Background Checks protect you, your other tenants, and neighboring property owners.  Nothing lowers your property’s rental appeal faster than giving the keys to a known at-risk tenant.

Avoiding Identity Fraud is a huge challenge today.  Verify the information on the application – check employment and banking references, talk to the current landlord.

Go with your gut!  Look for signs your applicant isn’t on the up-and-up:

 Fotolia_2600067_S

  • Wants to pay in cash
  • Is in a hurry to move in
  • Doesn’t provide documents
  • Fails to complete sections of the application

 

Sign up now for tenant screening services – credit checks, criminal background checks, eviction history.  Join American Apartment Owners Association today for deals on tenant screening, bad rent collection, legal forms and directories, and so much more!

courtesy of www.joinAAOA.org