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San Francisco Habitational Insurance: Property Management Tips

San Francisco Habitational Insurance: Property Management Tips

San Francisco Habitational Insurance: Property Management Tips

If you are the owner of any habitational real estate, such as condos, apartment buildings, or other multi-unit dwellings, it’s vital that you do everything you can to protect your business. This includes purchasing a San Francisco habitational insurance policy against property damage and injuries to residents and visitors. In addition to ensuring you have the right type of coverage, here are some ideas to help your business run smoothly.

  • Screen your tenants. Always remember to check credit history, references, and background. You want to make sure your tenant will pay rent on time and respect the property.
  • Get it in writing. It’s important to have a written lease or rental agreement to document the facts of the relationship with your tenants.
  • Handle security deposits the right way. Be sure to inspect the space before the tenant moves in to avoid any problems or claims later down the line. Create a fair system of setting, collecting, holding, and returning the deposit.
  • Make repairs. Remember that your tenants may have the right to withhold their rent or move out without notice if their repair requests are unanswered. Plus, it’s just good practice to stay on top of repairs, as you’ll retain tenants this way.
  • Provide secure premises. Asses your property’s security and take reasonable steps to protect it. Factors as simple as adequate lighting and clean landscaping can help deter thieves.
  • Provide notice before entering. If you have to enter a tenant’s apartment when they are not home, even if it’s for a repair that they’ve requested, it’s very important to give them adequate notice.
  • Disclose environmental hazards. Landlords are increasingly being held liable for tenant health problems resulting from exposure to toxins such as lead or mold. Tell your tenants if you are already aware of the problem.
  • Oversee managers. Just like you would with your tenants, screen your managers with a background check and reference check.
  • Resolve disputes. If you have a conflict with a tenant over repairs, rent, noise, etc. try to speak with them informally to see if the issue can be resolved between you, to avoid a potential lawsuit.

DiNicola Insurance Services provides commercial insurance, employee benefits, and risk management services in communities throughout the San Francisco Bay area, including San Mateo, San Jose, Alameda, and Marin County, California. To get started on a complete insurance program for your business needs, contact us at 855.247.1912.

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