@realestate.addicts · Justin + Tara | Real Estate
Saved 2026-05-15 · Posted 2023-05-04 · Status: New
I want to know from the tenants perspective would you guys prefer to pay a monthly premium over a lump sum security deposit.
Tenants destroying houses is unfortunately a common thing in real estate. It is so important to vet your tenants before they even have a lease or keys. But like all things, nothing is perfect and there eventually will be a bad apple that makes it through and could potentially cost you thousands of dollars in damages. I have heard horror stories from other investors and their disgruntled tenants. From tenants throwing, paint all over the house and destroying everything to flushing concrete down the drains. Most of the time, if a tenant really destroyed your property, the security deposits not even close to enough. I never thought about tenant insurance instead of a security deposit and I think it’s such a great idea and I’m definitely going to look into it to see if this is something that we should implement in our properties.
#realestate #realestateinvesting #realestateinvestor #landlordtips #tenantinsurance
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Comments (14)
Also put a lien on them
Well let’s hope the landlord isn’t a slumlord and lie, and that what’s deemed trashed isn’t normal wear and tear. Tenants should leave the rental clean and take dated photos of the house and do a walk thru with the landlord
👏
@_meggggannnn
I could see the tenants stop paying the premiums. Can the landlord take out the policy instead? And what is the deductible? Also does it cover lost rents while the damage is being repaired?
@angelina.anani
Guido takes care of problem … you may not get cash right away, but they won’t destroy a house again!
Nice try but RLL is better
Landlords always try to fold the cost getting the house ready for the next tenant on you and hold the deposit hostage. The shit they want you to fix costs more than the deposit let them fix it its their house anyways. Not my problem anymore and $2400 ain't shit in this economy anymore
Reaction videos are so lame. It’s just jacking someone else’s work.
Ummmm… Why aren’t you requiring your residents to have renters insurance that covers the full cost of the house??? Costs your renters $10/month. And $5,000 isn’t going to cover a kitchen fire or flooded bathroom!
Security deposit is for excessive wear and tear. Insurance is for major accidents.
Let me get this straight. You expect the tenant who trashed your house to collect money and then give it too you.. LOL sucker
Audacity😒
Does the landlord hold the policy or is it on the tenant? What does the insurance company do if tenants are repeatedly trashing the property?