CA Difficulty getting Policies for Renting Rooms out of a House

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CA Difficulty getting Policies for Renting Rooms out of a House

Ho-Fan Kang
Investor · Mission Viejo, CA · Member since 2016 · 11 posts · 1 vote

Hi All,

I own a 6 bedroom SFR house in Orange County, CA that I am having problems finding adequate insurance for due to my unique rental situation. I currently have 3 tenants who each occupy a room. I intend on finding another tenant to rent the remaining 3 rooms out, so finding a policy that supports a total of 4 long term tenants is my goal.

I have spoken with multiple large insurance companies with no luck as they do not offer policies that cover my situation, so now I am seeking help from you guys on what I should do to get a policy.

Thank you,

Ho-Fan

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  • Logan AllecBusiness Member
    Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
    9y

    Hi @Ho-Fan Kang, man I miss South O.C. Anyway, you said that your SFR is 6 bedrooms, that you currently have 3 rented out, and are looking to rent one more out for a total of 4 bedrooms rented. I imagine this is because you live in this house as well and are using the remaining 2 bedrooms for personal use?

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  • Ho-Fan Kang
    OP
    Investor · Mission Viejo, CA · Member since 2016 · 11 posts · 1 vote
    9y

    Hi @Logan Allec, thanks for responding, no I do not live in this house currently. I am seeking to rent out to only 1 additional tenant because the other rooms are simply too small and I'd rather attempt to find one tenant who would like the extra room(s).

    Because it is a house share, having too many tenants could lead to unhappiness and more turnover.

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  • Logan AllecBusiness Member
    Accountant · Los Angeles, CA · Member since 2014 · 1k+ posts · 980 votes
    9y

    I see.  And you have leases with each of your tenants individually, correct?  Are they 12-month or month-to-month or something else?

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  • Ho-Fan Kang
    OP
    Investor · Mission Viejo, CA · Member since 2016 · 11 posts · 1 vote
    9y

    @Logan Allec - Yes I have leases with each of my tenants individually, they are all 12-month leases with conversion to month-to-month, 2 of the 3 have expired and reverted to month-to-month.

    I intend on renewing the leases shortly.

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