Remove Insurance Remove Lease Agreement Remove Maintenance
article thumbnail

What Happens If Someone Gets Hurt on Your Rental Property?

Bay Property Management Group

In the meantime, your tenant’s renter’s insurance can help cover the costs. Get ready for insurance claims If anyone gets hurt because of something you did or didn’t do with the property, they might file an insurance claim against you. What Happens if Someone Gets Hurt on Your Rental Property?

article thumbnail

Lessor vs. Lessee: How Are They Different?

Bay Property Management Group

They both come from leasing; a lease agreement where one person lets another use their property in exchange for payment. For instance, if a landlord rents out an apartment, they’re a lessor making a rental agreement with a tenant (lessee). Lessor vs. lessee have completely different roles in a lease agreement.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Do I need landlord liability insurance? key benefits and tips for adequate coverage

MRI Software

This guide will cover what landlord liability insurance is, why its essential, and the key benefits it offers. What is landlord liability insurance? Landlord liability insurance is a type of coverage designed to protect property owners from financial losses due to accidents or damages occurring at their rental property.

article thumbnail

Rental Property Maintenance Guide For Landlords

Rental Choice

One of the most important is rental property maintenance. Why Is Rental Property Maintenance Important? Property maintenance for rentals is crucial for several reasons. Firstly, proper maintenance is vital for finding good tenants. Secondly, maintenance is crucial to maintain your property’s value.

article thumbnail

What Is Debt-To-Income Ratio (DTI): What Investors Need to Know

Bay Property Management Group

Lets look at them both: Front-End DTI (Housing DTI) The front-end DTI focuses only on housing expensesthings like your mortgage payment, property taxes, homeowners’ insurance, and HOA fees, if applicable. Meanwhile, g roceries, utilities, insurance, phone bills, and entertainment expenses don’t typically count as debt.

Insurance 147
article thumbnail

Are Pet Deposits Refundable? What You Need to Know

Bay Property Management Group

Pet deposits are basically a landlord’s safety net, a form of informal “insurance.” You Meet All Lease Terms If your landlord has found you followed the lease agreement (e.g., Read on to learn more about pet deposits, why you might not get your refund, and your rights as a tenant. What Are Pet Deposits?

Landlord 130
article thumbnail

Minimizing Investment Risks in Multifamily Real Estate

American Apartment Owners Association

Identify potential risks through in-depth examination, includingmarket analysisfor rental trends and property maintenance assessments. Manage maintenance costs proactively. Another important element of due diligence is evaluating theproperty’s maintenance and legal compliance. Ensure legal compliance to mitigate risks.