Lowering risk through 100% resident participation

The #1 way to transfer risk through renter’s insurance is to implement a program that mandates that residents show proof of insurance as a condition of residency. LeasingDesk is the only company that offers a Full-Participation Program that works closely with you to achieve 100% resident participation.

According to a 2005 independent national study titled: “Renter’s Insurance: National Study on Owner/Manager Utilization and Perceptions,” expenditures as a result of resident-caused claims that fell below the property’s deductible varies dramatically based on if the property enforced the requirement for renter’s insurance.

• When the renter’s insurance program is enforced, the total expenditures were $5.42/unit
• When the renter’s insurance program was not enforced, the total expenditures were $9.71/unit
• By not enforcing the renter’s insurance mandate, the total expenditures per unit were $4.29 or 79% higher
  

Bottom line benefits of a Full-Participation Program:

1. Reduction in liability exposure
2. Lower operating costs
3. Increased NOI
4. Valuable resident amenity
5. Greater competitive advantage
6. Ancillary income
7. Plus, you get a partner in risk mitigation that understands your business and serves as a true advisor to you.
   

And, we do this successfully without any additional burden on you. Here’s how it works:

1. Enroll your property/portfolio in the eRenterPlan Full-Participation Program
2. We provide comprehensive training and support for your on-site staff
3. During the resident’s property tour, the leasing associate explains that proof of insurance is a condition of residency and explains the benefits
4. Residents enroll in minutes online at www.eRenterPlan.com, via phone or by completing a simple enrollment form in the leasing office (or they can obtain their own insurance).
5. If residents have questions, they ask LeasingDesk – your leasing associates are not expected to have the answers
6. Residents provide proof of insurance at time of lease signing
7. Your track resident participation as well as create and view reports all online at www.LeasingDesk.com
8. LeasingDesk handles all customer service, claims management as well as ongoing training and on-site support
   

MYTH
Requiring residents to provide proof of insurance will result in a competitive disadvantage in the marketplace.

FACT
Implementing a Full-Participation Program DOES NOT result in a competitive disadvantage.
Here’s why:

1. Competitors Already Participate – Nearly 20% of all properties are requiring insurance as a condition of residency and this number is increasing every day. That means your competitors are most likely already requiring insurance.
2. Resident Amenity – Once residents understand the benefits of a Full-Participation program, they view the mandate as an amenity and appreciate that your property has their best interest in mind.
3. Pre-Approved, Competitive Policies - Because you have arranged for pre-approved renter’s insurance coverage at pre-negotiated rates, your residents benefit from not having to shop around for the most competitively priced policy.
   

Want more proof that LeasingDesk’s Full-Participation Program is the right solution?

• 82% of respondents to the national independent renter’s insurance study reported that they would be very likely to recommend the Full-Participation Program to other owners and managers.

Contact us today for a list of valued client references and see why top owners and management companies in the country have selected the LeasingDesk Full-Participation Program.

* Results come from a national independent study: “Renter’s Insurance: National Study on Owner/Manager Utilization and Perceptions”