Are you covered? Navigating you self through getting the correct insurance for your personal needs can be exhausting! Even property managers have trouble helping both their owners and tenant find that best insurance that is in their budget. Every state has different and unique requirements for their clients. How can you protect your owners and your tenants? I will go through with you a list of important things that you, your owner, and your tenant should all know when thinking about renters insurance! Read along.  Protecting your owner is the most important of the three. From previous statistics six in ten homes are not currently insured, placing no liability on your tenants in your Las Vegas home! All costs and damaged done on your uninsured home will most likely fall back on the owner. That could mean thousands of dollars for something simple as in an over flowing sink that has now damaged the cabinets and flooring in the kitchen. The first thing that will keep the owner not liable will be requiring all tenants to get renters insurance. Insurance can be all different prices and packages, so it is very important to discuss that when you are in a lease signing, so your tenants know exactly what will be going on when they get insurance. After you protect your owner, you will want to make sure your renters are protected as well. When you require insurance in a lease, the task of actually purchasing the insurance will fall back on the tenant. Tenants do not always rush to get their new rental insured, and this could lead on it falling back on you, as the property managers. Most tenants are in no rush because will all the other moving costs, find insurance is going to be the last on your list, and you could potentially loose a great renter because they are not willing to get insurance in the first month of moving in… You could make a clause in the lease saying within the first 3 months they must get insurance, and that will give the tenant a little more relief that they have time to look around for the best prices and will also do it at their own leisure with no pressure.  Renters are most of the time happy about getting insurance because it will not only insure their home while they are there, but will also insure their personal belongs that are in the Las Vegas Home will they are living there. Now that you have thought about protecting your owner and tenant, you will want to think about protecting yourself as the property management company. You will feel at relief when both your owners and tenants are covered in the home that you are currently managing. When your tenant is insured you can have a sense of relief knowing that the homes damages will not fall back on your and having a potential lawsuit. Adding other features like security systems and deadbolt locks to the home will also bring your tenant relief knowing that it is very hard to break into the home. I have attached an article that goes into depth about why both the owners and tenants should have insurance on their home in Las Vegas. Happy reading!!

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