Rent Protection

Landlords: Avoid the risk of tenant defaults.

Rent Protection is designed to help tenants when an unexpected loss of income occurs. Most people today do not have the cash reserves to overcome a loss of just one paycheck, putting their home and their family in jeopardy. You can help your tenants and the property owner avoid this loss by making this valuable protection available.

Product Description

A one year term of protection for events such as involuntary unemployment, employer approved-unpaid family leave, divorce, disability or accidental death. There is one benefit per contract so once a tenant receives a benefit for any protection the contract terminates. You determine the benefit amount, it can be one amount for all tenants or multiple options.*

Sample Costs**

Sample cost of coverage (landlord paid):
Benefit Amount: $750 ($1500)
One-time Cost: $69 ($119)

Administration

Our affiliated administrator provides program administration providing tenant activation request forms, claims adjudication, product and claims telephone support.

Protections Offered

A complimentary product (paid for by the landlord) can be placed on all leases in effect and/or placed only on new leases going forward.
Involuntary Unemployment, Employer Approved-Unpaid Family Leave and Divorce Protection
At the end of the complimentary period a program may be developed whereby the tenant is given the option to continue the protection at the tenant’s expense. You may then have the option of adding a margin of profit to the tenant paid product.
The protection is designed as an Obligor Contract with the landlord, property manager or a third party as the Obligor.
Contract is backed by a contractual liability insurance policy issued by Scottsdale Insurance Company, an A.M. Best A+ IV rated insurer. Obligor is reimbursed by the insurer monthly, in lump sum, for all benefits approved and paid in the previous month.

Note:
*Special benefit plans can be developed for large volume implementations.

**Final pricing may vary based on benefit amount, geographic location, tenant credit history, waiting periods, etc.