i am buying a condo and will rent it out . what kind of insurance can i buy to insure the furnishing i own.?

You really should discuss this with your insurance agent. You need either an HO/6 policy with an endorsement that allows you to rent it out (Condo Unitowners), or a DP-1 or DP-2 that is a straight rental. The laws and policy types may differ from state to state.

More important than the furnishings, you need to have coverage for the parts of your unit that your association does not insure. Here in Florida unitowners are responsible to insure the cabinets, fixtures, heating and AC system, and sometimes even the drywall, stairwells, and more. It depends on your state law and your condo documents. So if there were a fire, or the hot water heater broke, you could have to pay tens of thousands out of your pocket.

Finally, make sure you carry at least $300,000 in liability coverage. And I hightly recommend prohibiting pets. They are a liability nightmare for a landlord.

Good luck!

relies upon on if u go with an investment or in basic terms a place to stay. My husband and that i've got offered 4 homes and a million townhome to resell as investment properties. for sure u are in charge for all upkeep (except it somewhat is roofed by employing an HOA), taxes, insurance, utilities for the valuables. execs-U might have a place u can call your own and if or while u sell it the earnings will bypass to u, you're no longer throwing you cash away on employ each and each month with no longer something to coach for it. Cons-$$$ might nicely be high priced if u do no longer produce different aspects while themes above arise. Are roomates perplexing to detect and/or replace the place you're located? If no longer, that would desire to no longer be an argument while you're used to dwelling with yet somebody else Weigh each and each heavily previously you're making a decision. verify all comps in the section to be certain in case you could desire to get your investment back or make a earnings on resale in the present industry. Are abode values on your section growing to be? Is the industry on your section saturated with different properties reminiscent of this? think of roughly what your townhome and surrounding community will might desire to grant the customer in the event that they flow on your specific section. insurance value relies upon on the acquisition value of the apartment, section it somewhat is located in, and what you go with to insure, save around for rates. shape in basic terms? shape and contents? Will a loan employer carry the word or will the present proprietor proceed to possess the valuables until eventually it somewhat is paid off? What might ensue on you cash if the landlord defaults on the loan? What ever you be certain to do continually GET each and every little thing IN WRITING!! regrettably you in simple terms can no longer take somebody's word anymore. I even have found out this the difficult way. stable success!!

You need "Landlord's" insurance - I'm kind of amazed that your condo agent didn't know about this. It's cheap. Get it from the agent who sells you your homeowners insurance - it'll be even cheaper.

YOU NEED A HOMEOWNERS POLICY FOR A "TENANT OCCUPIED" PROPERTY.

YOUR AGENT WILL HELP YOU DECIDE ON THE AMOUNT OF THE POLICY.

JUST AS IMPORTANT YOU SHOULD INSIST THAT YOUR TENANTS GET A "TENANT LIABILITY" POLICY. THAT WAY

IF THEY HAVE A GUEST THAT GETS INJURED IN THE CONDO

THEY SUE THE TENANT AND NOT YOU!! INSIST THAT THEY

SHOW YOU PROFF THAT THEY PURCHASED THE POLICY.

THEY ARE INEXPENSIVE.

You can go in for a renter's insurance plan here,

"http://www.dpbolvw.net/email-1961891-10425139%22

or

"http://www.kqzyfj.com/email-1961891-10425138%22

you can get quotes online