Housing Advice, Renting

What do I do when something gets broken or damaged in my apartment?

If anything breaks while you are residing on the premises, and it is not your fault, it is best to let your landlord know immediately.  This way they will not assume you damaged it, and this will prevent you from having to pay for the damage to be fixed.  Things can happen, and so it’s best to just let your landlord know right away.

If you caused damage or broke something on the premises, the best thing you can do is let your landlord know immediately, as well.  Do not try to fix anything on your own.  For while your landlord may deduct from your security deposit, you’ll be better off by letting them know.  This way your roommates will not be held responsible for any of the damages (if you have roommates), and you can maintain trust between between you and your landlord.

We should also note that it is a good idea to keep track of anything that is damaged, broken, or anything that is just not working properly, upon move-in.  If you notice something, let your landlord know immediately, and keep a record of it.  You may even want to take a photo (if you can), just in case.

Overall, breakages and damages can occur.  The best thing is to let your landlord know right away when something gets damaged or broken.  For while you may have to pay, it will help you to maintain trust in your relationship with your landlord.

To find out more information on your rights and responsibilities as a tenant, visit http://portal.hud.gov/hudportal/HUD?src=/topics/rental_assistance/tenantrights.

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Housing Advice, Landlords, Renting

Why Landlords Should Encourage Renters to Get Renters’ Insurance

For some landlords, it is purely the decision of the tenant on whether to get renters’ insurance or not; for renters, renters’ insurance often seems like an “unneeded expense.” However, by renters not having renters’ insurance coverage, it cannot only hurt them, but it can also hurt their landlords. This is why it is important for landlords to not only educate their tenants on the benefits of renters’ insurance, but to encourage them to get this type of coverage.

First, by ensuring tenants have renters’ insurance, landlords can prevent any unwanted insurance claims being made against them. In fact, according to survey by Joshua Tree Consulting, rental property owners deal with about eight insurance claims like this a year. By helping to educate and encourage their tenants to get renters’ insurance, it can limit the number of these claims and the associated legal expenses that may come with it.

For landlords, renters’ insurance can also help cover their deductible in cases in which their tenant is responsible for damage to the property. In fact, according to a white paper published by Joshua Tree Consulting, landlords pay an average of over $2,400 per property for tenant-caused damage, as compared to just over $1,300 in properties where landlords required tenants to carry renters’ insurance. In this way, landlords can save money by encouraging tenants to get renters’ insurance.

While there are several financial benefits to encouraging renters’ insurance, responsible landlords can also value the importance of having this type of coverage. Incidences like fire and theft are not so “farfetched” in that they are impossible. By encouraging tenants to get renters’ insurance, landlords can help ease the minds of their tenants, so that should these incidences occur, they know they will be covered..

Renters’ insurance for both tenants and landlords is smart choice when renting, as it can save both parties money and stress in the case of fire, theft, or injury on a property. Landlords should remind tenants of the implications that incidences have, and the damage and loss they can inflict. It is important to stress foresight and caution when renting, as accidents can happen. For while renters’ insurance may seem like an unneeded expense now, it is something that will help both landlords and renters get through the times in which the improbable becomes probable.

Reference

“Renters’ Insurance Protects Landlords as Well as Tenants” by Jeffrey Turk

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