Rental Turnover (insurance)

[Dassi Lazar]

Alright let's talk rental turnovers.

I started building my portfolio 1.5 years ago and haven't had any turnovers yet. I want to be prepared for what is to come.

How do you handle turnovers? Has anyone had success with filing an insurance claim? I asked my insurance broker and he said that's not claimable... Does this insurance excist?

Tell me all your tips for your turnovers🙏

[Aaron K.]

@Dassi Lazar even if this insurance did exist it would be too expensive for it to be worth it, fire insurance works because it is a rare event that would cause financial ruin.  Vacancy insurance wouldn't because it is common and limited in financial impact.  A home will go vacant every couple of years on average meaning the insurance company would have to charge enough to cover all the costs associated with that and make a profit (it may even cost more than a fire policy).  Fire on the other hand probably happens once in every couple hundred years of ownership or less so the cost can be spread out over a long period of time.