Picture this: One of your tenants is making dinner and accidentally starts a small grease fire in the kitchen. No one gets hurt, but wading through the homeowner’s insurance claim, the tenant’s security deposit, and all the paperwork and red tape is completely overwhelming. IS there an easier way to deal with tenant mishaps?
Brad Larson, CEO of Larson Property Management and a key player at the National Property Management Network has a solution. Learn how tenant liability insurance protects the homeowner, the tenant, and the property management team and how to begin implementing it in your business!
[3:00] What is tenant liability insurance?
[4:45] How tenant liability insurance protects the homeowner, the tenant, and the property management team
[6:45] Making a revenue by mandating insurance
[7:50] The legality of tenant liability insurance
[12:15] Opt-in rates and conversion rates for renewals
[15:10] How tenant liability insurance saves property managers time
[17:35] Frequently asked questions
[19:10] Admin fees
[20:25] Is there any reason why a property manager wouldn’t want to implement this insurance?
[22:40] Implementing peace of mind and using insurance as a marketing tool
[25:30] The difference between renter’s insurance and tenant liability insurance
The Single-family-home property managers are way behind the times. We’re playing catch up.
Prioritize what you want to implement. Do what’s easy and what will make you money first.