As an apartment property management leader—maintaining a copy of resident/tenant certificates of insurance should be a top priority…for those who own apartments, commercial and other real estate buildings/assets.
Do you require that your rental residents secure and maintain renter’s insurance? What are the policies and procedures for how your apartment property management company verifies that renter’s maintain proper insurance coverage?
Below are two newsworthy articles related to resident mishaps–and a reminder of the importance of verifying that your rental housing residents have current liability policies in place. Please share these stories with those on your leadership, leasing and maintenance teams~
Renter Causes $2MM In Damage
http://articles.ky3.com/2012-03-14/careless-smoking_31184867
Renter Leaves Items On Stove
http://www.boston.com/news/local/vermont/articles/2012/07/03/vt_cops_say_johnson_fire_caused_by_items_on_stove/
Within your apartment property management company—-how often do you check and update your insurance policy records…for those living in your rental housing communities?
Focusing on renters/tenants…how does this tie into your real estate and apartment/commercial business insurance coverage? What is required from your insurance company…regarding resident/tenant insurance? If a resident/tenant is not protected by an insurance policy…how will this impact your apartment property insurance coverage?
Would you like our team to do a comprehensive review of your real estate building insurance coverage—related to renter’s liability?
To learn more about this topic and to read the news, trends and ideas being shared by apartment PM leaders—join the discussion thread below~with 60+ posts.
Industry Knowledge, Real Estate Building Insurance
http://www.linkedin.com/groupItem?view=&gid=36805&type=member&item=76772122&qid=0dc2d3c2-c9cd-4dc8-b481-ed2e4f93d5cb&goback=%2Egna_36805
Your LinkedIn group owner/moderator
Craig Simmons
Power Insurance & Risk Management Group
http://www.PIRMG.com
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