Protecting Your Personal Property
You may be considering renting out your home for extra income while you’re away for an extended period of time. Though this seems like an ideal solution for families with extra room to spare, it can pose liabilities. Take the following considerations to heart in order to protect your home.
Renting Your Home
- Ask for references from potential renters, especially those that will stay for a while.
- Draw up a rental agreement that defines the terms of the rental, including restrictions, liabilities and occupancy guidelines.
- Request a security deposit that is to be refunded if there is no damage to your home.
- Advise SterlingRisk that you plan to rent out your home and ask about how this may affect your current coverage.
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