Options To Best Implement the Waiver For Your Clients
Cover All Units
The Waiver is added to ALL occupied units. The property owner pays for the coverage in advance. All units are covered. This eliminates the headache of tracking coverage, all units are covered.
Cover Only Occupied Units
The waiver is placed on all new move-ins and lease renewal units. All units with the Waiver are tracked and monitored. RLL recommends adopting this coverage as it fully protects the property owner.
Cover All Units Not Covered by Renters
The community implements the Waiver on all units not covered by a renters policy at move-in or upon renewal. This can leave the owner exposed if a resident cancels their policy. It also requires the owner to track which units have Renters policies. If a resident fails to provide proof of coverage, the community can force-place the waiver on delinquent units to protect the owner.
Cover Units Through a Captive Program
The RLL captive program is ideal for owners who want to participate in receiving a potential underwriting surplus while taking on some risk. For portfolios with low loss performance the captive will yield great results and add an additional income stream to the participants.
Property Types Covered
Single Family Homes
The Cherry on Top
RLL Enhancements – available individually or as a package
- Additional content coverage of $5,000 & $10,000.
- Rent Replacement coverage when a unit is damaged and not rentable
- Pet Damage covers up to $1,000 in damage.
- Biohazard Remediation covers up to $1,250 of qualified cleanup expenses