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How Renters Insurance Helps Landlords and Tenants | Highland Beach Rental Properties

how rental insurance helps tenants and landlords

Rentals are a rarity in Highland Beach, where many move to enjoy the soothing sand and lapping waves as part of their ultimate destination. However, for those who are seasonal residents, or those looking to create an income property from their Highland Beach condo, renters insurance is practically a must. In today's Highland Beach Real Estate blog, we review some of the most compelling and simple reasons that renters insurance benefits both renter and landlord and why you should demand it as part of your income-producing property, especially in a place as upscale and costly as Highland Beach, Florida.

protects personal property

Protects The Tenant's Personal Property

The first and most important consideration is the protection of personal property for your tenant. This not only creates peace of mind but also easily sorts through any property damage situation as it stands without confusion. Even a younger, less wealthy tenant will likely have thousands of dollars of personal property in your rental at any time. This could include but is not limited to:...

5 Profit Killing Mistakes Highland Beach Landlords Make With Their Rental Property

5 profit killing mistakes

As a boutique, upscale Highland Beach Real Estate brokerage with extensive experience with investor clientele, we've seen all manner of profit and loss from landlords we've sold homes to and advised in the past. To narrow our list of ill-advised landlord mistakes to five was difficult, as there are many examples of poor choices cutting into profits and depreciating the quality of the rental property. For current and future rental owners, we're here to get in front of what could be your biggest mistake yet. These five landlord mistakes shown below are the most common and expected from landlords just about anywhere, and a cautionary tale to anyone looking to cut corners and save now. It may cost you big later!

neglecting essential appliance maintenance

Neglecting Essential Maintenance On Major Appliances

The inevitable breakdown of the washer, dryer, or other major appliance is the bane of a landlord's existence. Save for major disasters like flooding, fire, or a full HVAC overhaul, the repair or replacement of significant appliances can wipe out profits for a month or more. The extension of life on these pieces of equipment is one of the most important roles local handymen play when servicing rental homes, but their upkeep is often ignored...