Compelling your Houston Heights renters to avail renter’s insurance is a good rule, however, renter’s insurance primarily covers the renter’s property and not the house itself. Because of this, owners of single-family rental homes need landlord insurance, also known as investment owner insurance. Landlord insurance is intended for non-owner-occupied homes and covers facets of your rental properties that are not normally covered by other types of insurance policies. Some of the things landlord insurance covers include:
- The rental property and other structures on the property including fences and sheds
- Liability coverage to help pay for medical and legal fees
- Fire, wind, and ice damage
Landlord insurance with the most level of coverage might include the full replacement cost of the house, while lower levels of coverage are more basic. One other thing to think about getting is an umbrella policy, which offers additional liability protection beyond a typical landlord insurance policy.
Perhaps the most attractive reason to want to get the right kind of insurance coverage for you Houston Heights rental properties is this: because your insurance is considered an investment expense, your policy premium will most likely be tax deductible. It really is a win-win situation.
At Real Property Management Heritage, we understand the importance of protecting your investment. We can help guide you to the insurance policy you need, making sure that you and your residents are properly insured against the unknown. Our comprehensive Houston Heights property management services are designed to keep your costs low, maximize profits, and protect your real estate investment for years to come. For more information about our property management services, please contact us online or give us a call at 832-708-8157 today!