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