Are renters in New Market required to purchase renter's insurance?
The Commonwealth of Virginia does not require that renters in New Market to pay for a renter's insurance policy. However, leases prepared by our property managers require that tenants buy renter’s insurance which pays for losses of the tenant's personal property due to theft, fire, tenant negligence, or if someone is injured at the property. A’s insurance policy protects the property from loss, but not the tenant’s personal property if it is damaged, destroyed or stolen. Please contact your insurance agent to let them know that you are putting your property into service.
Landlord Reference
a free reference for property owners in New Market
- Before you move a tenant into your property in New Market
- Collections and evictions
- Communications with the renter
- During the lease term
- End of tenancy and what happens when a renter breaks the lease
- How does the owner get paid?
- How your management company handles the association and your community
- How your management company handles utilities
- How we find tenants
- Insurance matters for landlords using our rental management
- How Nesbitt Management handles keys
- New Market landlord responsibilities
- Maintenance, repairs & inspections for your property in New Market
- The move-in inspection
- Property management information form
- Selling a 1031 tax exchange & more
- Starting our management of your rental property
- When property owners don't yet know their new address
- Vetting tenants in New Market