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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. That said, if the tenant or a guest did something to cause the accident, then that could be a whole different story. On the other hand, if the problem is on the tenant, renters insurance can help cover their costs.

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What Utilities Are Included in Rent: A Guide for Tenants

Bay Property Management Group

Oftentimes, landlords exclude them because of how much tenants’ usage amounts can vary, or because of provider-specific agreements. Heres what youll likely need to budget for: Electricity This is almost always the tenants responsibility since each household’s usage looks different from one another.

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How to Keep Your Tenants Safe

American Apartment Owners Association

The signing of a rental lease agreement represents an expectation of trust between a landlord and a tenant. Just as you are placing your faith in a new tenant to pay their rent on time and respect your property, they are placing their trust in you that you will keep them safe while providing them with a habitable home.

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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). Essentially, they must take care of the property and its tenants.

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Buying a Tenant-Occupied Property: Essential Tips and Considerations

Real Property Management Chicago

Acquiring a rental property with existing tenants is not only a convenient choice, but also a great opportunity. Skipping renovations, advertising, and tenant screening is just the start of the advantages. That said, it’s vital to understand that purchasing a property with tenants already living there comes with its own challenges.

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Are Pet Deposits Refundable? What You Need to Know

Bay Property Management Group

Read on to learn more about pet deposits, why you might not get your refund, and your rights as a tenant. 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., Congratulations!

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

MRI Software

Landlords may face various liability risks, from tenant injuries to property damage claims. This guide will cover what landlord liability insurance is, why its essential, and the key benefits it offers. What is landlord liability insurance? Why do landlords need liability insurance?