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Apartments and Home Rentals

Can your landlord charge you for half the cost of expenses such as the increase of home owner's insurance even if you're only renting a room in the home?


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Wiki User
2006-07-14 12:50:18
2006-07-14 12:50:18

If it is in the contract.

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It is very important for a landlord to get contents insurance if they are renting out a property with furniture included. If then the contents are damaged by the tennants then the landlord will be able to use the insurance policy to replace them.

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Per Square Foot Industrial Gross If someone is leasing their space for $9.75 PSF IG, you are paying $9.75 per square foot of the property as your base rent (that includes CAM, Taxes & Operating Expenses as well as Insurace) and the Landlord is paying the expenses of the property. However, by the end of the year, should any of those inclusions increase, you will be responsible for paying that increase. For example, insurance for the unit you are renting costs $1,000 a year. The Landlord pays that directly (but it's been factored into your base rent). Say by the end of the year, the insurance goes up to $1,200 a year. You will be responsible for the $9.75 PSF AND that additional $200 increase in your insurance policy.

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The term letting insurance refers to the insurance a landlord has for property they are renting. It covers damage to the property either through accident or natural disaster.

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It is if you agreed to it in a contract. Otherwise the rental insurance is based on the value of what you own not the building you are renting.

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Landlord insurance is specifically for anyone who has bought a property with the intention of renting it. It provides insurance cover that standard household;d insurance may not, for example covering third party legal costs if someone was to be come injured in the property. There are different kinds of landlord insurance depending on the degree of cover needed. You can also get landlord insurance which guarantees to cover your rent payments for a period of time, should your tenants default on payment.


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