Renting House or Apartment Tips – What you should know

If you are considering renting an apartment or home, it can be more affordable then making an investment that well, could take a lot longer to fulfill. When purchasing versus renting there are thousands of dollars for closing, inspections, an appraisal and more. When renting you only have to come up with firsts months rent, last months rent and a security deposit and in some cases just first months rent and security deposit.

Be prepared for a credit and background check. Your credit more than likely be checked depending on the landlord and a call to your job. Of coarse the owner of the rental is looking for dependable renters that will fulfill a contract.

You also should consider doing a background check on your landlord or rental company. Here is a link with some helpful tips and how to go about that.

If you are looking to rent, check over your lease and the property you are considering carefully. Get everything in writing, from repairs that may need to be done, to how long your lease is for and other restrictions you will be complying to.

Once you have decided on the place and signed the contract, take photos of the home before you get all your stuff in and are settled. Look for any holes, water marks in the walls, the grounds outside, things that need repair, a broken screen, window and anything that you may be held liable for it not notated from the beginning. Put every repair in writing (email) and keep those pictures on a separate stick or disk in case you need them later. You may want to ask the landlord if they want copies. As you are settling in for the first month you may see things that you missed when you first moved in. Put that in writing or take photos.

Check the lease if there is a cost for pets. Do they allow a relative or friend to visit for more then a week. If you have someone stay with you, some contracts have stipulations on how long they can stay before being considered a renter themselves on your property and could cost your more money. For pets, a separate deposit is usually required and cost extra a month for little fido or kitty.

There are many benefits to renting when it comes to repairs. The air conditioner goes out, need a new fridge or the roof needs repair. It is your landlords responsibility and while you may be inconvenienced for a short time, you are not putting out the money for these repairs.

In today’s economy, renting is a popular option but as convenient as it is you should know your rights and make sure your personal belongings are covered. It is not the landlords responsibility if something happens to your personal possessions. Hurricane, theft, fire etc. the responsibility is yours for replacement or cash value. Click Here for more information on the importance of Rental Insurance.

Call us today to get your questions answered. 863-453-3903 or visit our website BudgetBiRite.com fill out the form and we will have an agent contact you within 24 hours.

We find insurance that meets every budget!

 

 

 

Photo courtesy of ErikaWittlieb at Pixabay.com

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Renting Out Your Property? Get These Landlord Rental Insurance Tips First

ID-100240741If you are looking to rent out your home you need Landlord coverage which is different then your regular home insurance and offers you the coverage you need.

Here are some of the requirements to consider:

Cover loss for reconstruction limits.

Make sure you insure your home for the total cost to rebuild. If there were a hurricane, fire or other devastation to your property you want to be sure your policy will pay for it and not out of your pocket. The same is true for separate structures that may be on your property such as a detached garage. Be sure to ask about the inclusion of Flood or Earthquake coverage for your policy.

Condition:

This is one of the top priorities to consider when renting. One if the home is in great condition it is more attractive to rent out. Two, keeping your home up to date and safe can help you to avoid a lawsuit from your tenant or a guest in case something should occur. Having landlord insurance will help keep you covered in such an event.

Follow that Building Code!

In case of a loss to your property and repairs are needed, have an inspection to be sure your building code is up to date. Your policy will not cover your costs unless specifically stated that way in the policy, these are considered mandatory upgrades.

Loss of Rent

If something should happen to your home that makes it uninhabitable and will take time for repairs, you will lose your tenets and rent check for that time. Getting this on your coverage will protect you and keep you going until the home can be rented out safely.

Coverage of landlords items on or in the property.

While tenets should get Renters Insurance to cover their personal belongings, a landlord should also have coverage for whatever belongs to landlord, such as the refrigerator, stove etc. Ask about this coverage since it is separate from the structure coverage. As a landlord your are not responsible for your tenants personal items.

Legalities and Lawsuits

Your landlord insurance policy is designed to cover legal issues between you and your tenants, property and fees for judgments for lawsuits over libel, slander, discrimination, unlawful eviction, invasion of privacy and more.

If you are considering renting out your property make sure you have the right coverage.

 

Photo Courtesy of Stuart Miles FreeDigitalPhotos.net


How To Protect Your Personal Property with Renters Insurance

ID-100249008There are affordable benefits to renting a house, apartment, condo, or mobile home; you are not responsible for repairs, you can move on after the lease is up and you do not have the added expenses for taxes and home insurance that can be quite costly.

While many people are renting, some renters do not have renters insurance because they do not know it exists or think they cannot afford it.

Renters Insurance can be affordable and help is available to find a plan that you can afford. Do not count on your landlords home insurance to have coverage for your personal belongings or liabilities.

Renters Insurance covers typically furniture, your TV, stereo, appliances, clothing, personal valuables and liability for injuries. If most of a renters belongings were stolen, consider what the cost would be to replace those items. Renters Insurance also covers you in case someone gets injured in your rental. You won’t have to pay their medical bills, nor would you have to pay legal fees if you are sued depending on the policy you choose.

If you cannot live in your rental due to a fire or other damage, you may purchase Additional Living Expense Insurance that can cover your out of pocket living expenses, including hotel charges and meals.

Types Of Personal Property Coverage

Deciding on the amount of your coverage is a very important way to save money. Consider what you can afford though if you do in fact lose everything in a disaster. Would you be better off with a higher deductible and a lower cost policy?

Take Inventory

Once you purchase Renters Insurance, be sure to take inventory of your belongings, furniture and everything in your dwelling. Use photographs or a video. Show serial numbers when available, open closets, drawers, your garage and storage areas. Be as detailed as possible. Don’t keep your photos or video in your dwelling! Save them on line, in a safety deposit or make copies for family and friends to save for you.

When you have Renters Insurance you’ll feel much more at ease because there’s less worry about the what ifs. You’ve taken the proper steps to cover the contents of your rental. When there’s a lightning storm, remember Florida is the lightning capital of the US, you know your microwave, washer, TV, etc. are covered. When a hurricane or tropical storm is headed your way, you can take the proper precautions for you and your family and not worry about your furniture or computers.

Paying a small amount of money now can save you lots in the end with Renters Insurance. Call us today with any questions, glad to help.

 

Photo Courtesy of phasinphoto at FreeDigitalPhotos.net


Insurance for Aircraft Rentals

Aircraft insurance is a must have if someone is learning to fly and to cover liability. There are factors to consider when applying for the rental insurance. The size and condition of the plane, how skilled the pilot is and what kind of company if any is involved with the transport of cargo or passengers.

If an airplane is in great condition, no wear and tear on the body, engine, wings and other areas, you chances of getting a lower rate are good. If the aircraft is in poor shape, not only would I not want to fly in it but, the risk is greater, bringing the insurance rate higher. When it comes to coverage for renting an aircraft, paying the bit extra is wise as checking out the plane throughly before taking flight.

Rental Insurance for aircrafts covers damage to the plane, injury to persons on the plane and mechanical problems that may occur.

Last but not least, anyone wanting to rent an aircraft will have to show they are qualified to fly.The more skilled the pilot, the less the coverage, and the less skilled, perhaps someone learning to fly or just received their pilots license will pay more.

Go over any insurance policy carefully and be sure you understand what is needed and possibly not needed for your circumstances.

Call us today to get your questions answered. 863-453-3903

or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.

We find insurance that meets every budget!

Ashley Bishop Owner/Agent

Budget Bi Rite Insurance, Inc

Serving All of Florida