Insurance when renting out a condo
Hi all,
I know this is a basic question, excuse me, but I'm trying to figure out... What insurances would I need in place if I were to rent out a fully paid-off condo to someone? Does condo landlord insurance cover everything, or would I need it in addition to regular condo insurance? I'm aware that it's recommended the tenant also have renter's insurance, but I'm just trying to figure out my monthly costs in maintaining this rental first.
Thanks in advance!