Whether you own one rental property or 200, you want to make sure you and your investments are properly protected. Global warming increases natural disasters. They are becoming more common, 2018 was the fourth-costliest year for natural disasters in history, according to MunichRe. They cost $160 billion, of which only half was insured. As a property owner, it is important to have the right insurance policy to protect you from any financial losses. It is vital that you understand your insurance and how it does and doesn’t protect you. As a landlord, your insurance will be different from homeowners insurance. Good protection is an insurance policy that will cover property damage, liability, and lost rent if the property becomes uninhabitable. Here are some insurance policies for landlords: 


Property Protection

Property protection covers damages to your physical property. You want to make sure to get an all-risk policy. Landlord property protection policies typically provide coverage for damages caused by:

  • Lightning
  • Fire
  • Wind
  • Ice
  • Hail
  • Snow 
  • Other types of incidents


Standard landlord policies typically do not cover flood damage. If you live in an area where the risk of flooding exists we advise you get a separate flood insurance policy. 


Personal Property Protection

Landlord personal property protection covers personal property left on-site for maintenance or tenant use, such as appliances and lawnmowers. A landlord policy will not cover the tenant’s property. Your tenants will need to have their own renter’s insurance policy. Requiring renters insurance is in the owners best interest. It benefits both the tenant and the landlord. Renters insurance minimizes the risk of being sued by a tenant. If damage occurs because of faulty wiring or flooding, a tenant without insurance is likely to blame the landlord and possibly bring them to court. If the damage is covered by insurance, the tenant has little reason to ask the landlord to pay.


Liability Protection

It is important that your landlord policy includes liability coverage. This coverage protects you against liability claims and lawsuits. If a tenant, visitor or even a trespasser gets injured in your rental property, you could get sued. Liability insurance will help you cover the costs associated with bodily injury claims on your property. Such as medical payments, funeral costs, legal fees, and judgment or settlement costs. It’s important that you confirm in writing with your agent, that the home will be rented to insure you have the proper coverages. 


Rent Loss Protection

If your property gets damaged and becomes uninhabitable your rent loss protection will cover the lost rent and pay you the amount of money you would have made in rental income.


You can choose to not have any insurance problems by hiring a property management company. At CRM Properties we have the experience, tools, and resources to effectively manage your property. 


Bethan Johnson

Turn Coordinator

Bethan is a Property Manager Assistant. She performs all property inspection and evaluations, creates tenant invoices and oversees disposition of security deposits.

Why choose CRM Properties?

We have the best selection of homes in the Kokomo area. Our staff’s dedication to customer service leads to a swift response to maintenance and tenant questions.


What is your screening process?

We verify income with copies of pay stubs and verification from your employer. We check court records for any judgments and criminal activity. We also contact your previous landlords directly for a referral. We will verify that the person we call is actually your landlord.


Are pets allowed?

Most homes allow pets. We do have breed and size restrictions. We limit the number of allowed pets and you must provide proof of vaccinations on all pets. We charge an additional $25 per month and $150 additional deposit.


How much is the damage deposit?

The damage deposit is equal to one month’s rent. An additional $150 is required for all pets.


How long of a lease must I sign?

Our leases are typically one year. During winter months we structure our leases to expire during the spring.


How do I pay my rent?

You can pay rent in person with a personal check, cashier’s check or money order. You may set up an e-payment or direct deposit. You may also mail your rent or use our dropbox.


What happens if I can’t pay my rent on time?

We do not make arrangements on rent. Rent is due on the 1st of each month. Late fees start on the 5th. If we do not receive rent by the 15th we file an eviction. You may stop the eviction if you pay rent in full prior to the eviction date.


How are utilities handled?

Utilities are typically the tenant’s responsibility. Utilities must be transferred into the tenants name prior to signing the lease. If the tenant is responsible for the sanitation bill and fails to pay it, we reserve the right to increase the monthly rent and include sanitation in the rent.


What do I do if I have a maintenance request?

Why choose CRM Properties?


What do you charge?


When do I get paid?


How much is the damage deposit?


How long will it take to get my property rented?


How do you market my property?


What is your approval process for tenants?


What is the tenant deposit and length of lease?


Do you accept pets?


What is the eviction process?

Amanda Mendenhall

Leasing Agent

Amanda is our Leasing Agent. She oversees property showings and screens applicants.

Bethany Shoffner

Portfolio Manager

Bethany is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience.

Hannah Dobbins

Resident Service Coordinator

Julie Mullinax

Operations Manager

Julie is our Operations Manager. She oversees the staff and the day to day operations of our company.

Heather Johnson

Property Manager

Heather is one of our Property Managers. She is the single point of contact for owners and oversees the tenant experience

Jennifer Koenig

Resident Services Coordinator

Jennifer is our Office Assistant. She assists the Property Managers with all property and social media marketing.

Amanda Marshall

Maintenance Coordinator

Theresa Cain-Rush

Property Management Assistant

Darin Olson

Maintenance Manager

Darin is our Maintenance Manager. He investigates maintenance issues and offers suggestions and estimates for repairs.

Lynda Simpson


Lynda is our Bookkeeper. She handles all accounts payable and receivables. She also coordinates all owner and tenant billing.

Chris Mullinax

Broker Owner & New Business Development

As President and Owner of CRM Properties Chris helps generate new business and works on making sure the business is compliant with all local, state and national laws and ordinances.

Call us at (765) 459-8034 during business hours.

We guarantee that a team member will be on the other end to answer any questions you may have.

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