If you own a rental property, or are considering buying one, here are some helpful things to know about
insurance and being a landlord.
WHAT COVERAGE DO I NEED AS A LANDLORD?
First and foremost, it’s important to know if your insurance policy covers your property as a rental. Typically,
a home insurance policy is designed to cover you and your dependents living in the property. However, not
all policies include coverage for rentals, so it’s important to discuss your coverage with your insurance
broker.
IS COVERAGE MANDATORY FOR LANDLORDS?
No, in Newfoundland and Labrador insurance coverage is not mandatory for landlords or tenants. However,
landlords are able to make tenant insurance a condition in the rental agreement.
WHO’S RESPONSIBLE FOR COVERAGE IF THE TENANT IS AT FAULT FOR A CLAIM?
A tenant is responsible for carrying insurance on his/her personal belongings, and they are not covered by
the insurance the landlord carries on the building. As well, a tenant is responsible for repairing damage
caused by the tenant or one of the tenant’s guests or visitors, whether it is deliberate or an act of
negligence.
DO I NEED LANDLORD INSURANCE IF I AM RENTING A UNIT IN THE SAME DWELLING I LIVE IN?
If you live in the home and rent out a room or a basement unit within your dwelling, you are not required to
have a separate policy, but it is advisable to speak with your insurance provider to ensure that you have the
protection you need for yourself and your tenants.
WHAT ARE MY RESPONSIBILITIES AS A LANDLORD:
All information related to landlords and tenants responsibilities can be found in the Newfoundland and
Labrador Residential Tenancies Act (RTA) (here).
● A rental agreement is mandatory.
● Keep the rental unit in a good state of repair. Landlords should address maintenance requests in a
timely manner.
● Comply with all health, safety, and housing laws.
● Put any notices to the tenant in writing and state the section of the Act that the notice has been
given under.
● Ensure that tenants are treated fairly and in accordance with the Human Rights Act.
● Provide a signed copy of the rental agreement to the tenants, or a written notice containing all the
information found in the Rental Agreement Notice Regulation if entering into a verbal rental
agreement, along with a copy of the Residential Tenancies Act.
● Submit an application to Service NL if there is a claim for any of the security deposits.
● Landlords have a right and a responsibility to manage the rental property. In doing so, they are
permitted to set other terms and conditions in the rental agreement, as long as those terms are
reasonable and do not violate federal, provincial or municipal laws.
WHAT INFORMATION DO I HAVE A RIGHT TO KNOW AS A LANDLORD?
● Ensure you are aware of who is occupying the residence, and if there are any upcoming changes in
the living arrangement. This should be covered in the rental agreement.
● Under the statutory provisions of the RTA, a tenant is permitted to sublet or assign the rental
premises, with the written permission of the landlord. The landlord cannot unreasonably withhold
permission and cannot charge a fee in excess of expenses actually incurred by the landlord
associated with giving permission.
CONTACT A STEERS BROKER
Do you have questions about your insurance policy and how you’re covered as a landlord? Contact us today!