Are renters in Place One required to buy renter's insurance?
The Commonwealth of Virginia does not require that renters in Place One to pay for a renter's insurance policy. However, our leases require that renters obtain a renter's insurance policy to cover losses of the tenant's personal property due to theft, fire, tenant negligence, or if someone is injured at the property. A’s insurance policy protects the property from loss, but not the tenant’s personal property if it is damaged, destroyed or stolen. Please contact your insurance agent to let them know that you are putting your property into service.
Landlord Reference
a free source for landlords in Place One
- Before you put a renter in your investment in Place One
- Collections and evictions
- Communications with the tenant
- During the lease term
- End of tenancy and what happens when a tenant breaks the lease
- How does the property owner get paid?
- How your management company handles the association and your community
- How your rental manager handles utilities
- How Nesbitt Realty & Management finds tenants
- Insurance matters for landlords using our rental management
- How Nesbitt Realty & Management manage keys
- Place One owner responsibilities
- Maintenance, repairs & inspections for your rental investment in Place One
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental investment
- When owners don't yet know their new address
- Vetting tenants in Place One