Setting Up Utilities and Rental Insurance - article banner

Every Colorado Springs rental property is a little different. In some homes, the landlord includes the cost of utilities in the rental amount. However, for most people renting a home in Colorado Springs, the utility accounts will need to be set up in their own names before they move in.

Utilities and insurance are two important parts of the move-in process, and we want to address some of the timelines and requirements in today’s blog.

Utility Accounts and Rental Homes

Turning on the electricity, water, and gas is necessary before you move. The account may currently be in your landlord’s name. Property owners will want to keep the lights on and the water running while they’re preparing a home for their next tenant.

You never really know what time of day the utility companies are going to flip the switch on your needed resources, so it’s a good idea to schedule the turn-on date to be the day before you move into your home. If you’re moving in on the fourth of the month, for example, schedule your utilities to turn on before the third of the month.

In some cases, you may need to pay a deposit, but if you’re transferring your service from one home to a new home, you likely won’t have to pay that deposit.

Check your lease agreement for additional instructions on utilities and how to pay and maintain them. Non-essential things like cable and Wi-Fi will also need to be scheduled. Landlords who provide landscaping and pest control will want to make sure those services continue without disruption.

Protecting Yourself with Renter’s Insurance

There are many benefits to having a renter’s insurance policy in place. They provide a lot of coverage for very little money. If you currently have automobile insurance, you can likely bundle the two policies together for additional savings.

Your landlord will likely require renter’s insurance, and you should get it even if they don’t.

Your policy will provide coverage for your personal property. If there’s a leak and water damages your furniture or electronics, you’ll want to repair or replace those items. Many tenants assume the landlord’s insurance will pay for those items, but they don’t. With a landlord policy, the structure of the home is covered but a tenant’s personal property is not.

Your renter’s policy will also cover your liability. If you accidentally leave the oven on and a fire starts in the kitchen, your renter’s insurance will cover the repairs so you don’t have to pay out of pocket for the repairs.

You’ll need to have this policy in place before you begin your lease agreement. It’s a good idea to list your landlord as an additional interest. This will allow them to verify your policy is in place and gets renewed at necessary renewal times.

Lease agreementIf you have any questions about how to turn on your utilities or manage your insurance, check your lease and reach out to your landlord. Property owners who work with professional property management companies often have an easier time managing these details, and we’d be happy to share more information about our services. Please contact us at Muldoon Associates. We’re here to provide the best in Pueblo property management and service to the surrounding areas in Pueblo County and El Paso County.