Arnold Insurance Agency, LLC Blog |
 Becoming a landlord comes with plenty of responsibility, as you're going to have tenants that live in your rental units and rely on you to maintain the property and address any issues they might have.
As a landlord, you're going to need to learn how to handle certain situations to avoid lawsuits or costly evictions. Below are a few things you are liable for as a Landlord.
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 It's important to know what your responsibilities are, so you can avoid any conflicts with your landlord or neighbors that could potentially lead to eviction or legal action.
Familiarize yourself with the responsibilities that landlords have for their tenants, as well as your obligations regarding your tenancy agreement.  If you own your home and pay your insurance premiums, you may be under the impression that your insurance company will cover it if anything happens to it.
Unfortunately, this isn't always the case. In contrast, home insurance can cover damage from fires, floods, hurricanes, and other events typically considered part of normal life. There are still things that fall outside of typical coverage. Below are five examples of items not covered by home insurance policies.  Auto insurance comes in three main types: liability, collision, and comprehensive. It's best to have all three, but you only need liability insurance to drive legally in most states.
Liability insurance may pay for your medical expenses, any damage you cause to someone else's property or vehicle, and their court costs if you're sued for an accident you caused. |
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