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Updated over 8 years ago on . Most recent reply

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Priscilla Davenport
  • Investor
  • Lansing, MI
5
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Should landlord pay tenant renters insurance?

Priscilla Davenport
  • Investor
  • Lansing, MI
Posted

Im told that tenant should be required to carry renters insurance but most cancel after a few payments Ive heard. Should you just increase the rent by the extra 20 dollars or so to new tenants monthly rent or resigning tenants rent when they sign the lease? Is this a bad idea?

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Meghan McCallum
  • Specialist
  • CHICAGO
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Meghan McCallum
  • Specialist
  • CHICAGO
Replied

Put it in your lease that they need to carry it and maintain it, also have them get the additional food rider. (I'm not sure what it's called but it will reimburse them for food if something goes wrong like a leak into a pantry or the power going out). Trust me, you will have a happier, more educated renter if you do. The rider is a few dollars more and most people really need it when something goes wrong.

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