It’s said that accidents happen, and no one in the world knows this better than a landlord. When people own the property that they live in, they tend to take better care of it. However, if the property is owned by the landlord, there is an assumption that the landlord will fix everything that’s wrong with the property no matter what. This can make for strained relations between a landlord and the tenants that have decided to call that landlord’s house home for the term of a lease, but it doesn’t have to be this way.
You see, there really are times where accidents are really accidents. You don’t want to just jump to conclusions when it comes to good tenants. If you’re ready to push forward, you will definitely want to make sure that you get buildings insurance.
Instead of getting upset with your tenants over every accident or issue that damages the property, you’ll be able to file a claim to get the money for the repairs. In addition, if your tenants are caught in a natural disaster and you’re elsewhere, it’s better to make sure that you have the insurance policy in place. It can get very stressful and busy when you’re trying to handle the balance between taking care of your tenants and ensuring that you still have enough money left over to take care of everything else on the property and in your real estate business. Whether you’re talking about just one property or multiple properties, buildings insurance is definitely the answer.
Speaking of a business, did you know that if you have multiple properties you might qualify for a discount on your policies as a whole? If you go with the same company that’s offering you a good deal on just one property, you might want to go with that same company when you begin to expand.
There’s nothing wrong with covering accidental damage with buildings insurance. If you really look at it from every angle, you’ll truly see that it’s a very smart investment for business owners that are truly savvy about the ins and outs of the real estate world.
Maybe you have great tenants that would never cause any damages. If that’s the case, figure out how to clone them — the rest of the real estate industry would like all of their tenants to be as good as yours! In the meantime, don’t skip the buildings insurance — start online and see what’s out there today!