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Renter's Insurance
Properties that require renter's insurance, report on average, 45% lower resident-caused losses than those that do not require residents to carry their own insurance.
Implementing a LeasingDesk renter’s insurance program as part of your community’s strategic risk management plan reduces exposure, decreases cost, and ultimately improves NOI by transferring financial responsibility of loss or damage from the community to the resident, where it belongs.
And you may be surprised to know that a renter’s insurance program provides these savings at no cost to the property owner.
The Value of a Required Renter's Insurance Program
A LeasingDesk required renter’s insurance program provides owners a notable cost savings and residents a valuable amenity.
- Save $22 per door/per year.
A recent independent study on insurance for the multifamily industry estimates that a required renter's insurance program saves a 5,000-unit portfolio $22 per door annually - at no cost to the property owner. This represents a nearly 80 percent savings on out-of-pocket costs associated with resident damages.
- Ancillary revenue stream.
Property owners receive a fee for their marketing assistance when they partner with LeasingDesk.
- Reduced property insurance premium.
Property owners typically realize a reduction in the property and casualty insurance premium as a result of all renters having insurance.
- Save on the cost of your deductible.
Resident-caused damages are covered by renter’s insurance so you save on costly out-of-pocket expenses.
- No administrative expense.
LeasingDesk manages the entire program including property and resident services, so there’s no additional expense or time burden to the property.
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Customer Video
See what customers say about the benefits of LeasingDesk screening integration. View Video
Kip Zacharias Vice President Business Services,
Camden Property Trust
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How much can your portfolio save with a required renter’s insurance program?
ROI Calculator
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Screening Statistics Reports
Sign up to receive a quarterly applicant screening benchmark report for U.S. Major Market Metros.
| INSURANCE WHITE PAPER |
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Download a free white paper on protecting your asset from the hidden risks of uninsured renters. Includes case studies and cost savings analysis.
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