As a Houston based property management company, we always like to make sure our clients are covered. So, we have partnered with Rent Rescue to help protect your investment. Rent Rescue is an insurance policy that helps reimburse landlords due to tenant default and eviction.
Rent Rescue is an insurance policy that reimburses a residential landlord up to 6 months of lost rent due to tenant default and, in the event of an eviction, pays $1,000 of legal expenses. All for an average monthly premium of $25 per unit which can often be passed along to the tenant or taken as a tax deduction (consult your accountant or tax attorney to see if you qualify).
- Up to 6 months of lost rent when default is due to abandonment or eviction
- Up to 3 months lost rent when default is due to court order, military deployment or tenant death
- The policy also pays $1,000 of legal expenses to pursue eviction
- Single family homes, townhomes, condos and multifamily dwellings (i.e., long-term rentals)
What isn’t covered?
- No coverage for property damage or liability
- No coverage for vacation, seasonal or short-term rental units
- No coverage when a tenant temporarily vacates the unit due to uninhabitability
How much does it cost?
- No bankruptcies or evictions during the last 5 years
- Rent isn’t in arrears and hasn’t been in arrears for 30+ consecutive days during the last 12 months
- Tenant must be able to satisfy financial terms of lease
- Claims can be submitted on-line through the Rent Rescue website.
- Payment on eligible claims will be made soon after receiving all of the necessary claim information
Need more information? Click to watch the video below.