 Tenants often forget that even though they are renting a property, their belongings are not protected from loss by the owners insurance policy. In the case of a fire, storm damage, or theft, the owner's policy only covers damage to the building and appliances provided by the owner for tenant use.
Here's a good example: Let's say the tenant had a kitchen fire and it was a complete loss. The stove, refrigerator, walls, flooring, and kitchen cabinets would all be covered by the owner's policy, but the tenant's food, pots & pans, and wall decorations would not. To protect themselves the tenant should contact an insurance agent and ask about a renters policy. The cost of this protection is inexpensive and well worth it. Call several insurance carriers or an "Independent" agent as they represent several larger carriers. Don't forget to ask the carrier who holds your auto policy, there may be a multi-policy discount. Some landlords require the tenant to take out a renters policy when signing a lease, but tenants often just cancel the policy after they move in. 77th Meridian makes a new tenant aware of risk, that the owner's policy doesn't extent to the tenant, and has the tenant initial that advice in the lease. We assume the tenant is an adult and can make good choices when they are informed with the facts. 77th Meridian, LLC offers professional property management for residential property in Anne Arundel, Prince George, Baltimore counties, and Baltimore City. Let us manage yours.
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 The periodic inspection is one of the best ways to head off major damage problems to rental property, that would otherwise only become known when the tenant leaves. Therefore the periodic inspection is really a lifestyle inspection. It identifies if the tenant sees the property as his home, a temporary residence, or someplace where they physically take out their frustration.
Tenants universally view these inspections as an invasion of their privacy. In some respect it is, but it also reminds them that they are borrowing the property for only the purpose and use outlined by the lease. For the owner, however, it allows discovery of illegal activities, and slow acting problems like leaks, insects or rodent infestation, that can be quite costly to address if let go. So how do you couch an inspection in a positive way? 1. It starts at the beginning: the lease signing. At 77th Meridian we indicate in the lease that we “reserve” the right to inspect every six months. That puts the tenant on notice that the inspection could be that often. 2. Announce the inspection and tell the tenant what you are looking for. Things like maintenance issues; Things that they are responsible for and things that they may not be aware of (like slow leaks). The idea here is that it will help make their tenancy healthier and more pleasant when the house is in good repair. 3. Have a checklist of items to look for. It is so easy to be shocked and derailed by how some tenants live (that have nothing to do with the house). A checklist keeps the inspector on-track. 4. Give the tenant fair notice. Allow them to clean up the place if they feel it is necessary to avoid embarrassment. Be flexible in time and date but do not take no for an answer. Such resistance should be met with a threat to use your pass-key to enter. 5. On the day of the inspection, be courteous, respectful and appreciative that you have been allowed into their home. Reiterate what you are looking for and do not criticize their lifestyle. 6. If you find a problem, inquire about how it happened and how long it’s been this way. Then discuss the repairs that will be needed for correction and how it’s their responsibility to participate in the cost. Offer them the opportunity to perform some of the correction themselves instead of charging them. 7. After repairs are made, follow up with a re-inspection on just the work done. 77th Meridian, LLC offers professional property management for residential property in Anne Arundel, Prince George, Baltimore counties, and Baltimore City. Let us manage yours. |
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