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Landlords might require tenants to carry a policy that includes a specific amount of liability insurance, while leaving the amount of personal property coverage to the tenant.
Reduces liability risk for landlords: Renters insurance includes liability coverage that protects the tenant if someone is injured in the rental unit. This reduces the likelihood of the landlord ...
[7] [8] The law institutes new limits on the amount spent on major capital improvements (MCIs) and individual apartment improvements (IAIs) that can be recovered through increased rent, [9] [10] which tenant groups contended were subject to "routin[e] abuse" by landlords seeking to "jack up rents and push out tenants."
Many large and medium-sized rental properties include a requirement in their lease that tenants hold renters' insurance. [2] If the tenant damages the premises, [3] the landlord and other tenants can recover against the perpetrator's insurance. It is important to know what type of damage your insurance covers. Essentially, there are three types ...
The Emergency Tenant Protection Act of 1974 (ETPA) expanded rent stabilization to other parts of New York State. [ 24 ] The Local Law 30 of 1970 introduced a new method of rent control price calculation, based on the Maximum Base Rate, which adapted to the changing costs faced by landlords, allowing them to pass those costs on to renters.
The most flexible state for car insurance alternatives is New Hampshire. In New Hampshire, drivers are not required to carry auto insurance, except in cases where they must have an SR-22. Here are ...
Landlords' insurance policies typically do not cover any personal property belonging to tenants, or otherwise protect the interest of tenants; although a liability policy protecting a landlord or property manager will be of benefit to tenants should they incur a loss for which the landlord is responsible.
You may see New York’s required liability insurance coverage expressed as 25/50/10, which is shorthand for $25,000 of bodily injury liability per person, $50,000 of bodily injury liability per ...
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