Are You an Owner of a Rental Property? We Can Help You Keep Your Property Insured

New Jersey beaches are a getaway for so many people over the course of a summer. Homeowners in the resort towns already know the first benefit of renting units out as a great way to earn income, but there are more.

Renters Insurance

Source: Free Digital Photos

The second benefits come in the form of Landlord Tax. When you rent your home to another person, you can deduct quite a few things. Like depreciation on the value of your home. You can deduct rental loss, quite simply you can collect a portion of any rent loss due to non-payments and so on.

Following that, there is an entire laundry list of deductions. You can deduct the costs of cleaning, repairs, utilities, advertising, supplies, travel expenses, professional fees, interest and the most important tool any landlord owns, rental property insurance.

Under the insurance rules, rental property to be covered under personal insurance is a property owned by an individual, not a partnership, corporation or LLC. It must be rented to individuals as well. In a multi-unit structure, you can have up to four units and the property owner may live in one of them.

There are guidelines to follow, but in the end, they are in the property owner’s best interests. As there are benefits to renting, there are also dangers like theft from outsiders as well as tenants. That’s why it’s always best to speak with your insurance providers and in New Jersey, the provider you should talk to first is the Schumacher Insurance Group.

They know New Jersey, they know how many units are rented over the course of the summer and most importantly, they know the best rental property insurance for your situation. Take the time to call Schumacher Insurance and relax knowing that your property is in the safest hands in New Jersey.

Advertisements

About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on June 17, 2014, in Agency, Uncategorized and tagged , , , , . Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: