Updated over 2 years ago on . Most recent reply
Renters insurance
A property I am managing had flooding in the upstairs bathroom and leaked into the down stairs bathroom, hallway and Kitchen. Would have been a nightmare to repair but thank good it was covered by insurance. $15k of damage will only cost us $1000 deductible and weeks of annoyed tenants.
In the process I have learned much about restoration, plumbing and flooring and creative ways to keep my tenants happy while thier home is torn apart and repairmen in and out all day. Most important things I learned are to communicate with tenants and if you have the aptitude, take care of small projects yourself. It reduces expense and build relationships with the tenants.