Ask HN: For landlords – How do you ask your tenants to buy renters insurance?

2 points by eastdark 6 years ago | 5 comments

Most apartment complexes require tenants to buy renters insurance; while for individual landlords, how do you ask your tenants to buy renters insurance?

taylodl 6 years ago |

You put it in the lease. The owner is not responsible for the personal belongings of the tenant. Your lawyer or broker should be able to assist you with the language or if you're on your own there are example leases online - though personally I'd run all contracts by a lawyer. It only costs a few hundred bucks and you have a sample lease you can use again and again (reuse FTW!)

eastdark 6 years ago | |

Thx! I see. So I won't be financially responsible for the losses. But I'm more curious that if the tenants' loss will indirectly cause trouble to me (if they become broken and are not willing to move out?), will it be a better situation if tenants are willing to have renters insurance in place? If it is, how do landlords effectively persuade the tenants to do that?

I rented out my property and the current tenant from Europe bought the renters policy even before I brought up it. But I also encountered someone who never followed up on that.

aphextim 6 years ago |

I've seen it as part of the lease terms/requirements.

Generic copy/pasta from a few searched netted me this to put in the lease terms to refute your responsibility for their loss.

>LESSEE is responsible for his own insurance on personal property. LESSOR shall have no liability for loss, damage or destruction thereof. Lessor may remove and store at the expense of the LESSEE all property found contained herein, after move-out or abandonment of the unit by LESSEE.

Follow it up by a preface under the "Use and Care of the Premises"

>Said premises shall be used by LESSEE solely for residential purposes. Further, LESSEE shall not permit any unlawful or immoral practices to be committed upon the premises, including, but not limited to, drinking by persons under the legal age of twenty-one, selling tickets to parties where drinking by persons under the legal age of twenty-one may occur or the use of a controlled substance by any person may occur wherein that substance or substances is bought, sold or given gratuitously, nor use the premises in a manner which is offensive, noisy or dangerous which may result in an increase of the insurance rate thereon. Further, the use of the premises by LESSEE shall be in a manner consistent with the rights of other residents of said building in accordance with any Federal, State or local laws or ordinances so as not to cause undue disturbance. Nor to allow any other persons to occupy premises hereby rented, excepting casual visits of friends or guests to a two (2) day stay. NO OTHER PERSON(S) SHALL OCCUPY SAID PREMISES FOR MORE THAN TEN DAYS, IN TOTAL, DURING THE TERM OF THE LEASE.

Key part of that statement I found was

>nor use the premises in a manner which is offensive, noisy or dangerous which may result in an increase of the insurance rate thereon.

Just my two cents, I am not a lawyer

eastdark 6 years ago | |

Thx! Interesting. If those terms are put in the agreement, the landlord seems to be released from the liability financially. However, if the tenant cannot afford the losses, it may cause indirect troubles to the landlord, right? I'm wondering if there is any incentive for the landlord to encourage his tenants to have renters insurance...

trcarney 6 years ago |

I've had apartments make me list them as an interested party on my renters insurance. The landlord then would get informed if the policy was cancelled or lapsed due to lack of payment. That would also be something to look into.