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[10 Common Mistakes by DIY Landlords] Mistake #5 Renting Property without Proper Home-Owner Insurance

May 06, 2020

10 Common Mistakes by DIY Landlords – Mistake #5 Renting Property without Proper Home-Owner Insurance

Whether you rent or own your property, the property should be protected with Home-Owner insurance, even though your tenants has already their tenant insurance.

Tenant insurance mainly covers personal property and liability owned by the tenants. Landlords needs a separate Home-Owner insurance coverage for damages to your property from unexpected events like a fire or water damage. Landlords also need liability insurance in case someone are injured on your rental property.

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We can’t guarantee that the above tips will help you manage your house effectively. However, we believe that ignoring them will cost you.
Remember to find a professional and licensed Property Manager who always works for your needs, not for his/her own commission.

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By Patrick Cheung

Patrick is a well-trained Rental Property Management Professional. He completed the Rental Property Management Licensing Course in UBC. Patrick plays a key supporting role in day-to-day functions and creates an active working partnership with our licensed Property Managers. Before joining us, Patrick worked in financial and technology areas for many years, he brings to the position extensive experience in business management, financial, mediation and a diverse range of IT technical skills.

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