Additional Coverage Options that Landlords Should Consider

Sometimes the Default Policy Just Isn't Enough

As a landlord, ensuring the protection of your property and investments is paramount. While landlord insurance provides fundamental coverage for your property and its contents, it's essential to be aware that there are additional coverage options that can safeguard you from various risks and liabilities. Below are some of these additional coverage options that landlords should consider to enhance their protection and peace of mind.


Rent Default Insurance

Rent default insurance is a valuable addition to your insurance portfolio as a landlord. This type of coverage steps in when your tenant stops paying rent, ensuring that you continue to receive rental income even during eviction proceedings and the time it takes to find a new tenant. Moreover, rent default insurance may also cover the legal expenses associated with tenant eviction, lightening the financial burden during such challenging times.


Flood Insurance

Flood damage can wreak havoc on your rental property, leading to costly repairs and potential loss of income. Unfortunately, standard rental property insurance policies typically do not cover flood damage. Therefore, if your property is located in a flood-prone area or designated flood zone, it's imperative to secure separate flood insurance coverage.


Additionally, if you have a mortgage on the property, your lender may require you to purchase flood insurance as a condition of the loan agreement. This ensures that both your investment and the lender's interest are protected from flood-related risks.


Title Insurance

When you purchase a property, whether it's a residential home or an investment property, there's a small but real risk that someone may challenge your ownership in the future. These challenges could arise if, for instance, it is claimed that the person who sold you the property did not have the legal right to do so. In such cases, title insurance becomes a crucial safeguard.


Title insurance provides protection against any claims or disputes regarding the ownership of the property. If someone successfully challenges your ownership and regains control of the property due to a title claim, title insurance will compensate you for the value of the property. Unlike other types of insurance, you typically pay for title insurance only once, at the time of property purchase.


Tenant Discrimination Coverage

As a landlord, it's vital to be aware of the laws governing tenant rights. Discrimination against tenants on the basis of race, religion, gender, or national origin is illegal in many jurisdictions. To protect yourself against potential discrimination lawsuits, consider adding tenant discrimination coverage to your rental property insurance policy.

Tenant discrimination coverage provides financial protection in the event of a discrimination claim. It can help cover legal expenses and any damages awarded to the tenant in case of a successful discrimination lawsuit. While every landlord should be committed to fair and non-discriminatory practices, having this coverage can provide an added layer of protection in case of unforeseen legal issues.


Being a landlord comes with various responsibilities and risks. While a basic landlord insurance policy is essential, it's prudent to explore additional coverage options that can offer comprehensive protection for your property and investments. Rent default insurance, flood insurance, title insurance, and tenant discrimination coverage are all valuable considerations that can help you mitigate risks and ensure a prosperous rental property venture. Make sure to always consult with insurance professionals to tailor your coverage to your specific needs and circumstances.

Using Our Screening Score Sheet for Rental Applications

April 21, 2025
When applying for one of our rental properties, we use a comprehensive screening score sheet to ensure all applicants are held to the same standard. The score sheet evaluates various aspects of your financial stability and rental history, helping the landlord make informed decisions while maintaining a fair and transparent process! Here’s a breakdown of how we assess your application utilizing the screening score sheet: 1. Length of Residency: While longer periods at previous residences typically suggest reliability and commitment, we understand that some applicants may be first-time renters. We welcome first-time renters, and on the screening score sheet, you can assign yourself a "1" under "Length of Residency" if this is your first rental experience! 2. Collections: We review any outstanding collections, including monthly utilities or bills, as well as loans (excluding medical bills). This helps us assess your overall financial responsibility. Your estimated monthly payment for all your loans, utilities and bills is also taken into consideration. 3. Rent-to-Income Ratio (per household): To ensure you can comfortably afford the rent, we require that your monthly income is at least 2.5 times the rent amount. This ratio helps us verify your ability to manage rent payments alongside other living expenses. 4. FICO Score: While there is no specific minimum FICO score, we do take it into account when evaluating your financial health. A higher score indicates a history of responsible credit management. 5. NSF/Late Payments & Landlord Disputes: We look into your rental history to ensure that there are no frequent NSF (non-sufficient funds) or late payments, and that there are no unresolved disputes with previous landlords. Please note that all application charges are non-refundable, and every occupant over the age of 18 must submit a separate application. Our scoring system ranges from 0 to 21, with 15 being the lowest acceptable score. All approvals or denials are ultimately decided by the property owner. We do not operate off a first come first serve basis, so if you are curious about the status of applications prior to applying, please don’t hesitate to call our office! By using our screening score sheet, we aim to create a rental environment where both tenants and property owners can thrive. This score sheet can be found on our site, under the Before You Apply Manual, as well as under “Rental Resources”.

Declutter and Earn: Join the Outdoor Swap Meet at the Downtown Recreation Center in Henderson!

April 16, 2025
Looking to declutter your home while making some extra cash? The outdoor swap meet at the Downtown Recreation Center in Henderson is the perfect opportunity! Whether you’re cleaning out your closets, clearing space in your garage, or finding a new home for gently used toys, books, and clothes, this event is your chance to turn those items into money. Each booth equals two parking spots, and registration is required at least one week in advance. All booths are assigned randomly, ensuring a fair and fun atmosphere for all. Remember, only second-hand items can be sold, so it’s a great way to recycle and give your items a second life. Event takes place April 19th & May 17th! The swap meet opens at 7am, so come early to shop! Admission is free for all ages, making it a perfect outing for families looking to find unique treasures. Ready to get started? Simply register on the City of Henderson website to secure your spot. It’s time to clean out, earn some extra cash, and find something new – don’t miss out on this exciting event at the Downtown Recreation Center!

Exciting News: MAX, Your New AI Assistant for Maintenance Requests!

April 7, 2025
As of April 7th, Appfolio has launched MAX, an innovative AI assistant designed to make submitting maintenance requests easier and faster for all residents! With MAX, getting repairs done quickly and efficiently is now simpler than ever. Here’s how MAX works 1. Click the Blue "New Meld" Button When you need maintenance, simply log into your Property Meld account and click the blue “New Meld” button 2. Troubleshooting with MAX MAX will ask you a few quick troubleshooting questions to help pinpoint the issue and ensure the right work gets done 3. Track Your Request Once maintenance is scheduled, you can easily follow the status of your request right in your Property Meld account.  MAX is here to streamline the process and help ensure your maintenance needs are addressed quickly. MAX™ users are already seeing game-changing results: a 100% accurate work order match rate and 62% of all Melds have photos or videos attached. We’re excited about this new feature and hope you enjoy the improved experience!
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