Consumption and Real Estate
If me and my friends rent a home, at say, $900 a month, do we have to pay for home insurance or property tax?
Question : If me and my friends rent a home, at say, 0 a month, do we have to pay for home insurance or property tax?
I guess it depends on the owner, right? but we just wanted to pay the rent and whatever utilities that we may use..not the homeowners insurance, property taxes, and the rest of that stuff
home property insurance
Best answer:
Answer by Rick B
No, you don’t pay property tax or home owner’s insurace.
But each of you should have your own renter’s insurance to cover your belingings.
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#2 written by Classy Granny 1 year ago
You do not pay for home insurance or property taxes.The home owner is responsible for that. It would be a good idea to purchase a renter’s insurance policy. It would cover all of your belonging in the event of a loss.Shop around. Renter’s insurance isn’t that expensive when you consider what replacement cost of everything would be. The owners insurance won’t give you a dime, only the owner.
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#4 written by enoriverbend 1 year ago
Renters never pay home insurance or property tax directly. However, they do of course pay it indirectly, since a rise in insurance rates or property tax for the owner will be passed on to the renters in the form of increased rent (eventually).
You do need renters insurance, which is cheaper and will just cover your own possessions.
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#5 written by Lynda 1 year ago
As far as utilities, it depends on the agreement you sign with the landlord.
Landlords are responsible for insuring their property (building). As far as renter’s insurance for your personal possessions, that’s up to you.
The property owner is also responsible for the property tax. Why would an owner give the tenants so much power and risk having the county place a lien against the property due to non payment of property taxes?
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no you don’t pay for property taxes or homeowners insurance but you should get renters insurance – only runs about $ 200-300 per year (split it with your roommate) and put the utilities on budget helper (if you can)