It’s good for large apartment building owner and managers. It’s good for renters as well. A new concept, everybody wins. A breakthrough new suite of insurance products – RENTSENSE – underwritten by the international insurance market – offers four new levels of protection – WHILE GENERATING A NEW REVENUE STREAM for owners and managers, Renters benefit as well.
San Diego, CA June 11 ,2018 – A breakthrough new suite of insurance products, called RentSense, underwritten by the international insurance market, offers four new levels of protection for owners and landlords of large residential rental properties, while generating incremental annual revenue.
The suite of four offerings begins with the core product, RentSense Plus+, a security deposit insurance plan, which provides the landlord with 150% of the deposit value, at no cost to them. The tenant pays an annual, non-refundable payment (premium), which is a percentage of the full amount of the security deposit.
“RentSense is a win-win for landlords and tenants. Landlords receive more protection than a traditional security deposit, and, they get a deposit waiver fee for each unit per year, adding to their bottom line income; and tenants are able to secure a great apartment without paying a hefty security deposit.” explained Tim Wahl, creator and CEO of RentSense and long-time insurance executive.
“It’s a unique way of providing additional protection for landlords while helping renters get into an apartment for less money. Everybody wins”, he says.
Wahl, an entrepreneur and creator of unique insurance plans, was the founder of AmeriFlood—a flood insurance program for large residential rental developments. He created Rent Sense while researching additional needs and opportunities for such properties, their owners and managers.
In addition to security deposit insurance, RentSense Insure provides additional protection in the case of a tenant-caused loss. The tenant’s policy becomes the primary insurance, thus protecting the landlord’s master policy from huge increases.
For landlords who want additional coverage over and above a traditional security deposit to cover unpaid utility bills, there’s RentSense Extra.
RentSense Quick Cash provides the landlord with immediate cash to pay for damages when a tenant defaults or is evicted. No waiting for a court settlement.
“We’re thrilled to be offering this new suite of plans,” said Nicholas Readings, Director of RentSense and CEO of Independent Broking Solutions Ltd., an approved Lloyds of London broker, “It creatively affords risk free additional coverage to the landlords, while creating a new incremental revenue stream,”
“It’s one-stop shopping for large residential rental property owners,” he continued. “The majority of losses come from tenants via damage to property or rent default”.
Rent Sense will focus its initial efforts on large residential rental properties, both apartments and single-family rentals, in major U.S. metropolitan areas around the nation.
“This is an exciting new program,” said Russ Dubisky, executive director of the South Carolina Insurance News Service. “It’s a very appealing insurance offering for major residential rental property owners, with a great benefit to tenants.”
Company Name: RentSense
Contact Person: George David Drucker
Email: Send Email
Address:16106 Clear Oak Drive, Encino,CA 91436
Country: United States