For a lot of people, Renters Insurance can be an afterthought. Tenants tend to think it’s an unnecessary expense and landlords tend to think it’s the Tenants’ responsibility and shouldn’t be a concern of theirs. The fact of the matter is both parties need to be aware of the benefits that come from a solid renters insurance policy.
The first and most obvious benefit is coverage of the tenants’ personal belongings. Often people think they don’t have enough property to make paying for a policy worthwhile. But if you take a look at what can be covered by a renters insurance policy, you’ll notice that it can really add up. Clothing, furniture, television, entertainment systems, computers, sporting equipment, and jewelry…these are just a few items that are covered under a Renters Insurance Policy.
What most people aren’t aware of is the benefit to the landlord. Not only does renters insurance cover personal property, it can also help pay for damages caused by the tenant. Some of the most common Renters Insurance claims are fires and floods. Leaving a candle burning, knocking a fire sprinkler off when moving, or causing damage with cigarette burns are just a few ways that a perfectly normal landlord-tenant relationship can head South. Renters Insurance can help cover all of these issues. So while you may require a stiff security deposit, there is always a chance that something catastrophic can happen. And when something does happen it’s important to make sure you and the tenant are covered!
Failing to do background or credit checks could mean a big mistake with your new tenant!
There’s an internal sensor we have that lets us size up a person’s character in one meeting. While many of us trust our own judgement, it won’t always lead to a good outcome when it comes to leasing your home.
A nicely dressed, well-spoken person could be living beyond their means, or he could just be a great salesman (a.k.a con person). The lesson is simple. When entrusting one of your biggest financial assets to a stranger, the rule is this: screen all applicants properly.
As the Owner, you want to know whether an applicant has been evicted in the past; whether they have a history of criminal behavior that could jeopardize you, your neighbors or your property; and whether they earn enough (an industry standard for this last question is a monthly income at least three times the rent).
Here’s where Seattle Rental Group (SRG) can be particularly helpful. We have relationships with background-investigation firms that know the laws surrounding data searches. SRG uses these agencies to supplement a criminal and financial screening.
The credit score is very important; however, credit scores alone are not all-telling. It’s possible for people’s credit to be damaged (after a hospitalization, divorce or short sale/foreclosure for example) without their ever having missing a rent payment. This is why being armed with the proper Agent and Agency is important for a combination of “internal voice” and screening to make the most educated decision possible when leasing out your home.
After reading this article, it looks like Ballard might be the new place to live!
Currently Avalon is constructing a new large building in downtown Ballard and now Equity is breaking ground. We are seeing construction all over this city but I believe Ballard is the place to keep an eye on.
Additionally, condo sales are doing pretty well in Ballard these days. There are some new buildings, as well as great deals on buildings that are a couple years old. There are already a bunch of new restaurants and lounges flocking to Ballard, and with all this new construction I believe we will see a lot more growth in the months to come.
If you are looking for a luxury high rise condominium in Bellevue, look no further!
Lincoln Tower is right in the middle of all things Bellevue! Dine at nearby restaurants or go shopping at Bellevue Square. One Lincoln Tower is one of the finest of Bellevue luxury condos.
This exceptional condo at One Lincoln Tower sits on top of the world! Take in the breathtaking views of Lake Washington, the Seattle skyline, the Olympic mountains and Mt. Rainier. Located in the heart of Bellevue, this spectacular condo at One Lincoln Tower is ideally located. A short walk to shopping, dining and parks.
About One Lincoln Tower
Construction began in 2000 and was completed in 2005 by Kemper Development Company. The building boats:
- 41 floors
- 148 residences: 1 – 3 bedrooms / 1 – 4 baths / 1121 – 1629 asf
- 303 hotel rooms (at base of tower)
- One Lincoln sits above the renowned Westin Hotel
- Solid concrete & steel construction
- Located in the heart of downtown Bellevue and connected to Bellevue Square via skybridge
- Floor-to-ceiling windows
- Hardwood flooring
- Concierge 24 hours / 7 days a week
- Hotel services available
- World class 65,000 a.s.f. health club
- Screening and entertainment rooms
- Swimming pool
- Valet service available
- Small pets allowed