I know a small landlord who had a tenant without insurance. The tenant caused a fire – you know the rest. Although the landlord was covered with his own insurance, the payment of the claim would have meant in an increase in his premiums (possibly on all all the properties insured under that policy. For your protection as a landlord it is essential that you require all your tenants to provide proof in insurance before they take possession of your property.

When you describe this requirement to a prospective tenant it is essential that you describe it as being for their benefit. See the following article from the Toronto Star: Continue reading →