@flippininheels · Flippin' In Heels™️ 🏠👠
Saved 2026-05-15 · Posted 2023-07-10 · Status: New
Have y'all heard about this insurance policy before? What are your thoughts? 👀 Comment below!
#repost @realestate.addicts
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 (13)
Thank you for sharing🙏🏽❣️❤️
Cheaper rents get more trouble tenants
Only if you have over 150 units will they work with you
5 months security? Fuck that. So you're just charging a higher monthly rent. Security is 1-1.5x month tops. You can't compare it to 5x months for security.
As a renter I’d pass on this landlord if it even was the best deal/rent. Paying insurance as a great tenant (5 flawless rental terms over 20 years) is a waste of my money as I’m paying for my own insurance already on my belongings.
Or ... just get any renters policy , include yourself as a co-insured and include the payment as part of the rent . It's not rocket science
Sue then Sheriff sell
But is it illegal to request more than monthly rent from tenants. As far as I know monthly rent and no more fees, charges of any kind. If you want to charge anything extra then include it in the monthly rent.
And the insurance company gets rich
Rule of Thumb: If you start a lease by bending your own rules and making exceptions, you will finish the lease having broken all the rules. The more you bend over backwards to get a tenant in, the more those tenants will make you LIVE TO REGRET IT!
Tell me more this is great news
You can save yourself all these headaches if you get a background check!? The likelihood of someone with a 800 credit will screw you over 🤷🏻♂️
What if tenant cancel the insurance once satisfying the landlord and/or stops making monthly premiums?