Jenifer Kynor, Tenant Screening, Landlording, Marketing (TurboTenant)

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Rainmaker
503,076
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Commercial leases? The tenant has to match the landlords policy. It's usually one or two million in coverage. And it is a condition of the lease. Let it lapse and you're in breach.

Dec 06, 2017 01:54 PM
Ambassador
1,850,729
Fred Griffin
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Do you mean for their personal property?  No requirement, but give them the disclosure that recommends they buy it.

Dec 06, 2017 02:22 PM
Rainmaker
2,449,030
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

YES and for $100 bucks, here, it is well spent for any tenant

Dec 06, 2017 02:09 PM
Rainmaker
4,270,848
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Put it in the lease but it is difficult to track and enforce.

Dec 06, 2017 01:52 PM
Rainer
151,301
Sharon Altier, SFR
Lawton Realty Group, Inc. - Elmhurst, IL

Probably  a good idea to have it in the lease.  That way tenants can initial that area, acknowledging that they are aware Landlord does not insure their personal possessions. 

Dec 06, 2017 01:50 PM
Ambassador
3,101,077
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams fox cities - Stevens Point, WI
Forestland Experts! 715-204-9671

If they have certain dogs then our insurance company requires them to have renters insurance.

Dec 06, 2017 02:14 PM
Rainer
103,192
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Yes they should have insurance. If there is any damage and it’s found to be negligence on the owner’s behalf, I’d hate to see what attorneys and the courts would have to say. Not being well versed with insurance, I’m not sure what recourse he owner would have on the renters’ negligence. 

Dec 06, 2017 02:06 PM
Rainmaker
2,375,086
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker

It should be a requirement in every residential lease!

Dec 06, 2017 02:00 PM
Rainer
11,234
Tyra Hatcher Mitchell
Alliance Realty - Portland, ME
Southern Maine Realtor

As a landlord, we require renter's insurance  and proof of payment (per our lease).  It was recommended by our insurance agent as added liability.  We've never had an issue getting it from tenants

 

Dec 06, 2017 04:51 PM
Rainer
409,093
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Our properties are insured. We tell our renters that they should get insurance, if anything does happen they are not insured and they will lose everything as our insurance does not cover contents. 

Dec 06, 2017 04:02 PM
Ambassador
2,228,666
Debe Maxwell, CRS
www.AtHomesCharlotte.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Without fail! YES!

Dec 06, 2017 03:40 PM
Rainmaker
3,948,372
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

I always gave advice to tenants to get tenant's insurance because mine was not for content.... that was also in their rental agreement ....

Dec 06, 2017 03:25 PM
Rainmaker
364,009
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

It's the tenants responsibility to purchase renters insurance not the landlord.

Dec 07, 2017 05:59 AM
Rainmaker
2,103,518
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

Yes...

Dec 07, 2017 04:12 AM
Rainmaker
2,434,409
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

It's just crazy not to have renters insurance. 

Dec 06, 2017 09:11 PM
Ambassador
1,234,484
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

We do in our management contracts.

 

Dec 06, 2017 04:29 PM
Ambassador
3,367,657
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Yes it should be a requirement. It’s easy to explain the rationale for 

Dec 06, 2017 04:06 PM
Rainmaker
1,215,483
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

Require ~ likely legally not, strongly suggest~ yes. 

Dec 06, 2017 04:01 PM
Rainmaker
230,335
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Yes!!

Dec 06, 2017 02:47 PM
Rainmaker
3,423,821
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Jennifer,

It is a good practice for tenants to folow, and I agree with Roy Kelley 

Dec 06, 2017 02:42 PM
Rainer
115,231
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

I think they should require it, if it covers appliances, just in case of fires and such

Dec 07, 2017 05:33 AM
Rainmaker
2,267,032
Richard Weeks
Dallas, TX
REALTOR®, Broker

If it is one of my properties yes.

Dec 07, 2017 05:02 AM
Rainmaker
798,352
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

I certainly can't require that as an agent. I can however recommend they purchase it though. There is no cons to it.

Dec 07, 2017 04:23 AM
Rainmaker
2,617,650
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Fred Griffin nailed this one!

Dec 07, 2017 04:16 AM
Rainmaker
3,709,727
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Yes.

Dec 07, 2017 02:32 AM
Ambassador
3,366,489
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I believe you should to protect yourself and any misunderstandings that might arise if there is a claim.

Dec 06, 2017 10:04 PM
Rainmaker
719,770
Thomas J. Nelson, Realtor,CRS,e-Pro
Big Block Realty 858.232.8722 - La Jolla, CA
Co-Host of Mail-Right's: Real Estate Agent Podcast

We do.

Dec 06, 2017 08:48 PM
Rainmaker
1,399,025
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I have never asked tenants about that but I make sure they understand that my homeowners does not cover their possessions.

Dec 06, 2017 07:45 PM
Rainmaker
785,266
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

I tell them the owner has home insurace (fire insurance). If the home is broken in they are utimately responsible to loss. Entirely up to them.

Dec 06, 2017 06:05 PM
Rainmaker
3,332,051
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

WE suggest but do not require. It is a pesonal decision

Dec 06, 2017 05:45 PM
Rainmaker
689,557
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

You can recommend but not require

Dec 06, 2017 05:30 PM
Rainmaker
347,138
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Haven't seen it required. I don't work many rentals though. 

Dec 07, 2017 07:27 AM
Rainmaker
2,779,850
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

It's an upfront discussion that should take place.  Between listing agent and landlord. Plus with the proposed tenant as well.  

Good luck.

Dec 07, 2017 07:27 AM
Rainmaker
494,749
Nathan Gesner
American West Realty & Management - Cody, WY
Broker / Property Manager

I do not because it's one more thing to track AND you have to enforce it. Are you willing to kick out a good tenant just because they refuse to maintain insurance on their stuff?

It may make sense for someone with a few rentals. I have around 300 and don't want my staff spending time collecting proof of insurance, notifying tenants when it expires, or dealing with violations.  Particularly when the use of renters insurance is very rare.

Every state and every court can be different but I have seen case law where the judge ruled a Landlord cannot force the tenant to purchase insurance.

Dec 07, 2017 06:11 AM
Rainmaker
600,035
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Yep!

Litigation begins when someone perceives they have suffered a lose.

My argument is. "Because I said so."

Exactly the same justification for the pet deposit and security payment.

And during that annual inspection, I need to see that receipt for renters insurance.

 

Dec 07, 2017 05:45 AM
Rainmaker
1,294,658
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Area Real Estate

Yes, I do/we do as a company for writing leases.

Dec 07, 2017 05:40 AM
Rainmaker
3,930,029
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't do rentals, but if I were a landlord, I would.

Dec 07, 2017 05:25 AM
Rainmaker
455,406
Gloria Valvasori, ASA
Better Homes and Gardens Real Estate Signature Service - Streetsville, ON
Quality Service, Exceptional Results, Since 1987

I always recommend renters have personal property insurance. Although I always put that clause in the offer to lease, and that it be in  full force and effect for the duration of the lease agreement, and ask that a copy be given to the Landlord, it is difficult to enforce.  The Tenant could cancel it at any time...

Dec 07, 2017 04:49 AM
Rainmaker
201,115
Dennis Swartz
Rickert Property Management - Columbus, OH
ABR, CRB, CRS, GRI, CMCA, MBA...experience counts!

We recommend but will begin requiring insurance in 2018. In the event of a tragedy the tenant has a place to live whil they v get back on their feet.

Dec 07, 2017 02:47 AM
Rainmaker
2,367,639
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

For the low price of it, YES they should have it.

 

Dec 11, 2017 09:37 AM
Rainer
42,348
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

Renters Insurance does not cover the property, only the renters contents. So if they have insurance it will not protect the landlord, only the contents of the renters. It should be considered because it will cover contents in case of fire, theft and in some cases, personal injury inside your unit.

Dec 11, 2017 08:58 AM
Rainmaker
3,226,705
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I don't do rentals, but definitely would have them sign a form stating they SHOULD have it to protect their personal items.

Dec 10, 2017 03:35 PM
Rainmaker
969,515
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I advise my tenants that my insurance only covers the building and not personal property.  They are advised to get their own policy.  If they have dogs, they are required to get a policy and name me as an additional insured.

Dec 07, 2017 09:54 AM
Rainmaker
2,191,138
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

All renters should consider this subjectively. If there is a catastrophe, the owner may be covered but they wont. Go from there

Dec 07, 2017 07:22 AM
Rainmaker
813,717
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Liability, liability, liability, YES, it's necessary!

Dec 07, 2017 07:20 AM
Rainmaker
1,280,552
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Jennifer Mackay Yes they should. Like all insurance it will minimize their liability.

Dec 07, 2017 06:32 AM