Investors with the money to spend in real estate these days might stand to do quite well. As an investor you might consider purchasing condominiums because at the moment it is a buyer’s market. There are also a number of repossessed condos that might be purchased pretty reasonably, fixed up and rented out to set aside some money towards a nice little nest egg for your retirement years. Above all, if you decide to make an income renting condos, be sure and get Florida condominium insurance for landlords.
It could be easy to get so excited about your first investment property that you overlook getting landlord insurance. As a rental property owner, you have to think about the new risks associated with having renters in your condo.
Those investors that plan to use rental income from their condo for earnings may be glad to know that landlord policies can include coverage to protect against income loss.
Another aspect of renting a condominium is the likelihood of lawsuits. As a landlord you cannot totally guarantee safety on the property. Fortunately liability insurance is generally included in landlord policies.
Those looking to make money by renting furnished condos will need coverage for contents also, and in this case they should discuss the type of coverage required with their agent – whether actual cost value or replacement cost.
As a landlord you should work closely with your agent to get the most suitable Florida condominium insurance policy for your requirements. Speak to us about any questions you have or to arrange a prompt quote.