Fire hasn't ruined them: Apartment complex's insurance requirement a blessing for residents

The fire at The Timbers in Bon Air caused about $350,000 in damage. But luckily for its residents, The Timbers in April started requiring occupants to have renter's insurance. "We had seen so many families devastated in the past," said Reta Lane, regional property manager for BNP Resi...

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Bibliographic Details
Published inMcClatchy - Tribune Business News p. 1
Main Author Julian Walker and Meredith Bonny
Format Newsletter
LanguageEnglish
Published Washington Tribune Content Agency LLC 25.01.2007
Subjects
Apartments
Coffin, Matt
Fires
Lane, Reta
Rentals
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Summary:The fire at The Timbers in Bon Air caused about $350,000 in damage. But luckily for its residents, The Timbers in April started requiring occupants to have renter's insurance. "We had seen so many families devastated in the past," said Reta Lane, regional property manager for BNP Residential Properties Inc., based in Charlotte, N.C., which counts The Timbers among the 37 properties it owns in Virginia, North Carolina and South Carolina. "We felt that for the good of the company and the good of the clients, we needed to start implementing renter's insurance." While more companies may be considering a rental-insurance requirement, Chesterfield Fire Lt. Matt Coffin said The Timbers' fire was the first time he saw an apartment fire where the tenants had insurance.