Condo investors may be interested in this question Elizabeth Rhodes recently answered:
My partner and I own a condominium that we rent out. We were recently informed that our condo association has voted to require all renters, including our tenant, to purchase renters insurance. Although we are all for renters insurance, we were wondering about the legality of requiring it, especially in the presence of homeowners insurance purchased by us.
Short answer: It’s legal for an association to require renters to have their own insurance — but it can’t do so directly.
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2 responses so far ↓
1 Ashley // Feb 20, 2008 at 11:18 pm
I actually just ran into this for the first time today…The Pomeroy (2319 1st Ave- Pinnacle Management) requires that all renters have insurance and must provide proof before taking possession!
2 EconE // Feb 21, 2008 at 6:05 pm
It’s just plain dumb for a renter *not* to have renters insurance considering it’s so cheap.
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