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Podcast: Property Management Brainstorm
Episode: Five Minute Friday #3 - Insurance Coverage for a Rental Property
Description: In this Five Minute Friday, Bob discusses the proper insurance coverage that a landlord should have at his rental property before placing a tenant. With Long-term Rentals (typically unfurnished, rented under a 12-month lease) there are two types of insurance policies that should always be required.The first type of insurance is a “rental dwelling” policy:The rental dwelling insurance policy should be a minimum of $1,000,000 public and premises liability insurance. Rental dwelling policies usually cost less than homeowner policies because the owners personal belongings are typically moved out of the home and do not need to be...