Are renters in Lexington Estates required to buy renter's insurance?
The Commonwealth of Virginia does not require that renters in Lexington Estates to buy a renter's insurance policy. However, leases prepared by our property managers require that renters pay for a renter's insurance policy to cover losses of the tenant's personal property due to theft, fire, renter negligence, or if someone is injured at the property. A’s insurance policy protects the rental property from loss, but not the renter’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.
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Landlord Reference
a good source for rental investors in Lexington Estates
- Before you lease out your investment in Lexington Estates
- Collections and evictions
- Communications with the renter
- During the lease term
- End of lease term and what happens when a tenant breaks the lease
- How does the landlord get paid?
- How your rental manager handles the association and your community
- How your management company handles utilities
- How Nesbitt Realty finds tenants
- Insurance matters for rental investors using our property management
- How Nesbitt Realty & Management manage keys
- Lexington Estates landlord responsibilities
- Maintenance, repairs & inspections for your rental investment in Lexington Estates
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental
- When landlords don't yet know their new address
- Vetting tenants in Lexington Estates