Mixed-use properties

Mixed-Use rental property and the tenants.

We have been getting more & more calls & inquiries with investors who own multiple use properties. While the apartments are the easy part of a mixed-use building, most real estate investors don’t realize the commercial tenant matters.

An accountants office, easy to insurance. An eye wear place, also easy. Restaurants? Now we start to narrow who can insure this type of rental property, as not all insurance companies like restaurant tenants. A gun shop? This narrows the insurance companies even further, as they don’t want the potential defending of a lawsuit. Which is where the insurance underwriters get nervous, putting their insurance company on defends costs.

So when looking for help insuring your mixed-use rental property, make sure you explain who the commercial tenant is, how much square feet they occupy and that you are listed as AN ADDITIONAL INSURED on the tenants insurance policy. Why? If you get named in a lawsuit due to their negligence, your defense comes out of their insurance policy before yours needs to respond. Their insurance becomes primary in defending you.

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