*Sparki*
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Tenants are responsible for their contents. You are responsible for building and your contents (if any)
EDIT: Here's some info on Housing for you
http://www.adviceguide.org.uk/index/family_parent/housing.htm |
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emms
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As a landlord, you are responsible for the buildings insurance only. Any tenant letting your property has to be responsible for their own contents insurance.
You can however include a minimal contents sum insured if you have any white goods in the leased property. Any lettings insurance broker will be able to advise further. |
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CHARLES R
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Tenants are responsible for contents insurance. Its relatively cheap mine was less than $20 when I was a tenant. |
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Cat burgler
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No, you are liable for buildings insurance but not contents (if it not furnished anyway). |
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taxed till i die,
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Their contents,Their insurance,Yours building only. |
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Queen B
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you are in no way responsible to insure your tenants property. if you have property in the home you rent out (furniture, applicances, etc) you need to make sure that YOUR policy has coverage for this. |
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Headchef
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If it is a furnished flat you should cover what is your property. Any of the tennants property is their responsibility. You do however have a reponsibility to keep the building in good repair and any damage incurred from a failure to do this could become your responsibility ,so you may wish to check with your insureres to check the extent of your cover. |
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aires69uk OFFICIAL
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You are only responsible for landlords contents. Your tenants are responsible for their own contents. |
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Lou
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I have a landlord he pays for building insurance and I pay for contents insurance. |
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Jimmy c
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It Depends if you rent them a furnished or unfurnished property. If they moved in and you supplied them with furniture you are responsible for breakdowns etc |
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Blondie Bear
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It depends on whether you let it furnished or unfurnished. If it is unfurnished then it is up to the tennant to get contents insurance. However, if it is furnished you may wish to get some contents insurance to cover the items that you provide. You are not responsible for insuring anything that the tennant brings in. |
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Insuranceman
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Might not hurt to have something in your lease agreement that you DO NOT provide coverage for THEIR personal items. You CAN insure YOUR furniture, appliances and permanent items but it is up to your tenant to have his OWN renter's policy.
These types of policies are relatively inexpensive and coverages vary from State to State and company to company.
The thing I really hate seeing is the couple on TV, their smoldering rent house in the background, whining about how their landlord didn't have insurance on THEIR furniture and they lost EVERYTHING!!
And to think, coverage could be had for less than a pack of cigarettes a day! Or, the cost of a DVD or a case of beer!
Good luck and I hope this helps! |
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welcome news
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No - you have no insurable interest in the posessions of your tenants. It is up to them to obtain insurance.
You have an insurable interest in the property and in any furnishings that you provide and a specialist landlord insurance policy covers these. Try http://www.portwood.co.uk/ for quotes from a range of providers. |
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Storm Chaser wannabe!!
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As a tenant myself, I know this. You're responsible for buildings insurance. If the property comes fully or part furnished you can have insurance on your furniture if you wish, but the tenant should have to pay contents insurance for any furniture and equipment that they own. I live in a fully furnished house, but my contents insurance covers my landlords furniture as well as my things. If you don't have contents insurance on your furniture/equipment and the tenant damages it and doesn't replace or satisfactorily repair it you can keep all or part of their security deposit to cover this. |
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jordaneschler
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Can't say for sure because it depends on the state you're in, but as a renter I've always carried my own renter's insurance for contents, natural disasters, and liability. It's cheap too, you can tell your tenants as much!
Obviously you should insure the structure (it's an investment) and some sort of liability insurance is a good idea too, in case of a slip & fall... |
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