Landlord Ledger
A small rental property usually lives or dies on cash flow. These guides cover two insurance details that decide whether a bad month stays a bad month or turns into a bad year: how lost rent is paid after a covered loss, and what happens to coverage when a unit sits empty for more than 60 days.
Guides
Lost rent after a fire: how fair rental value coverage pays a small landlord, month by monthWhen a rental property burns, landlords think first about the building. The building is usually the easier problem. The mortgage, property tax, and…
The 60-day vacancy clause: what an empty rental loses in coverage, and how to keep itMost rental property policies contain a short clause that does nothing as long as tenants keep turning over quickly. Leave the property empty for more…
Who covers what
| Situation | Where to look |
|---|---|
| Rent stops after a fire or storm | Fair rental value (loss of rents) coverage, its time limit, and its dollar limit |
| Unit empty between tenants | Vacancy clause; vacancy permit endorsement if it may run past 60 days |
| Tenant's own belongings and hotel | Tenant's renters policy, not yours |
| Long renovation | Tell the insurer in writing; ask about builder's risk |