The number one goal of your rental business should be to make money, not give it away. One way to protect you and your investment is to have proper insurances in place. Let me introduce you to four insurances that you should consider.
A Good Lease
The first insurance that I posses is the insurance of a good lease and a thorough move-in inspection. More than once I have referred to the pictures of a move-in inspection to counter a tenant’s claim about a pre-existing condition. I remember one time during a preliminary move-out inspection I noted a cracked ceramic floor tile. The tenant claimed that it was like that when they moved in. I turned on my laptop, pulled up the appropriate picture from the move-in inspection, and proved to the tenant that the crack was in fact not there when they moved in.