Landlords who find a security deposit and one month’s rent aren’t enough to cover the cost of a tenant leaving before their lease is up can now be covered under a new concept in renter’s insurance.<\/p>\n
Reichen Kuhl joined Jason Hartman as a guest on a recent episode of the Creating Wealth Show to talk about LeaseLock, a program that guarantees rent payments to landlords when qualifying tenants don’t fulfill their lease agreement.<\/p>\n
“The landlords have decided, along with us, that the old way of adding extra security deposits you just have a big pile of money sitting there that will protect you for a month or two, or asking for a resident to go get a cosigner isn’t the answer,” Kuhl said. “And the real answer is make the resident go get insurance on the lease so that if there is a default the landlord is always indemnified and only in that case will they rent to that renter preventing risk.”<\/p>\n
Kuhl explained that the insurance will pay for broken lease agreements as well as eviction fees should a landlord need to remove a tenant.<\/p>\n
The landlord will do an initial screening and those who they are interested in renting to will be passed on to LeaseLock. The company will then perform a thorough background check.<\/p>\n
“Because of the technology we have to look into bank statements, past rental history and also employment and payment history from that employer, we’ll make a decision usually within 24- hours,” Kuhl said. He added that sometimes it’s possible to tell if a tenant will pay rent timely simply by studying their meal habits. While examining bank statements, how often a prospective tenant eats out and how much is spent is often an indicator of their commitment to pay.<\/p>\n
There are smaller companies that offer the same type of insurance in a localized area, however, Kuhl said his company offers its service nationwide.<\/p>\n
To learn more about tenant insurance, visit the Creating Wealth Show with Jason Hartman and tune into episode #818.<\/p>\n
The Creating Wealth<\/em> podcast with Jason Hartman has a global audience in more than 164 countries and is ranked highly in the Investing section of iTunes. New episodes release every week.<\/p>\n The podcast is a part of The Hartman Media Network, which is becoming a required stop for politicians, the media, and economic, finance, health and travel experts. The Hartman Media Network has been host to a wide variety of prominent names from all sides of the spectrum, including 2016 Republican candidate Dr. Ben Carson, former Senator Todd Akin, and Rich Dad<\/em> author Robert Kiyosaki. Other guests have included Presidential nominee Pat Buchanan, Weather Underground leader Bill Ayers, and FOX host John Stossel.<\/p>\n Hartman Media podcasts can be accessed at www.HartmanMedia.com<\/a><\/p>\n About Jason Hartman<\/strong><\/p>\n Jason Hartman is the founder of The American Monetary Association, The Hartman Media Company, Platinum Properties Investor Network and The Jason Hartman Foundation, a resource for young adults to develop financial literacy.<\/p>\n In a successful investing career spanning over two decades, Hartman has been a successful entrepreneur, speaker, author and media personality. His Complete Solution for Real Estate Investors<\/em> has helped thousands of people achieve their dream of financial freedom with income property investments.<\/p>\n Jason is also:<\/p>\n • An innovator in teaching personal financial literacy and empowerment<\/p>\n • Creator of the 10 Commandments of Successful Investing<\/em>, a set of no-nonsense guidelines for achieving financial success<\/p>\n • Founder of JasonHartman.com, a comprehensive resource for creating sustainable wealth through income property investments<\/p>\n • Self-made multi-millionaire with income properties in several states<\/p>\n To learn more at www.JasonHartman.com<\/a><\/p>\n For media inquiries contact PR@HartmanMediaCompany.com<\/a> or 315-529-1235<\/p>\n Website URL: http:\/\/www.jasonhartman.com\/cw-818-insuring-rental-income-with-leaselock-reichen-kuhl-the-amazing-race-us-air-force-officer-servicemembers-legal-defense-network-author-of-heres-what-well-say\/<\/a><\/p>\n Media Contact<\/span>
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