A landlord`s insurance policy does not cover the tenant`s personal property. So if there is a flood, fire or drainage pipe and your valuables are damaged, you are responsible for your personal belongings. So, after signing the lease, make getting a tenant policy the first item on your list. These policies typically offer theft protection and are relatively inexpensive: premiums typically range from $200 to $300 per year. Your lease is a legally binding document that contains many do`s and don`ts about where you live, and yet many tenants don`t read their leases. There is much more to the lease than how much you will pay each month and how long you will live there. Time during the term of this texas rental agreement by the tenant for the. Condominium or homeowners` association with control. Every day, these “what if” scenarios occur in homes. So what happens when you propose a “what if”? If you don`t have tenant insurance, you can lose everything! The owner is not held responsible. In fact, even in incidents that you did not cause, you are responsible for the replacement of your belongings.
And, even worse, if you`re responsible for an accident that causes property damage, loss to others, or injury to someone, you may even be held liable to the owner of the property! Tenant CJM 186253v.6 Owner Page 1 of 16 TEXAS STANDARD RESIDENTIAL LEASE THIS STANDARD RESIDENTIAL LEASE AGREEMENT (this “Lease” or . Homeowner`s insurance does NOT cover your personal belongings, food spoilage, or costs associated with loss of use of the property. (i.e. Accommodation if needed.) You should check if your tenant`s insurance policy covers such events. Section 207.003 of the Texas Property Code. . Property that the association needs to repair, you should not sign the contract unless you are convinced that the .. . .