my apartment complex called my boyfriend up on wednesday telling him our apartment will be "inspected" for renewal of their insurance, and that they will be here between 9am and noon. is this something they do often or is this rare? thanks..
2006-11-03 01:23:20 · 8 answers · asked by Valerie 1 in Business & Finance ➔ Renting & Real Estate
Yes, this is something they have to do in order to renew thier insurance policy (no more than once a year). They will also do a walk-through inspection if they ever sell the building to another company, again for insurance reasons, although this could happen at any time. They do have to give you at least 24 hours notice before any inspection (including walk-throughs with prospective renters, if you have agreed to let them use your apartment as a show unit).
2006-11-03 01:36:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
AN apartment complex goes through different inspections every year. At least mine does with the town that we live in. Insurance inspection is rare but not unusual.
2006-11-04 01:59:03 · answer #2 · answered by Anonymous 2 · 0⤊ 0⤋
If you live in a big complex, usually they just pick one or two units of each type or price tier to walk through for insurance purposes. They don't tour all 400 or whatever units.
State inspections are a different matter. My state inspects all rental units once every 3 or 5 years (I forget which).
2006-11-03 05:47:47 · answer #3 · answered by BoomChikkaBoom 6 · 1⤊ 0⤋
This does happen on occassion. The insurance company wants to make sure the property they insure is actually worth what the owners have stated. It is legal for this to occur and they have given you at least a 24 hour notice of their intent. It can be due to the owners having an older policy which needs updating or the owners are looking for coverage with another company.
2006-11-03 01:29:33 · answer #4 · answered by beeotch 3 · 0⤊ 0⤋
Inspection day is something they do rare, Inspection is just something you go through once you are living in a house or an apartment for a little bit. Its like taking a test you can fail it or u can pass it, they dont put you out or anything if you fail, its just that they give you a paper saying what need to be done . Dont be scared just get to know them and be yourself, As long as your place is clean and nothings broke, you are going to do good. We have them to, we always pass, you will to as long as you take my advice. GOOD LUCK!!!
2006-11-03 01:53:22 · answer #5 · answered by Lauren 2 · 0⤊ 0⤋
It's not something they would do more than once a year, and probably not that often. The insurance company just wants to check up on the place to make sure they aren't being ripped off.
2006-11-03 01:27:50 · answer #6 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
yes The really Do. Insurance Is up for Renewal
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2016-12-05 12:12:11 · answer #8 · answered by ? 4 · 0⤊ 0⤋