If a person rents an apartment from someone else, he or she becomes a tenant. It can be both by an individual or a company. If you rent an apartment from a real estate company, you live in a tenancy and need a rental home insurance with protection for you and your belongings. This will also cover you if you sublet an apartment from a private person who is the the contract holder of the rental apartment or the owner of the property.

As the owner of an apartment, as opposed to a tenant, you also need the condominium supplement in your insurance, which covers damage to the apartment itself and not just the stuff in it.