Renters Legal Liability is an innovative risk-transfer property damage loss waiver option program.
-Allows multi-family property owners and managers to manage risk and mitigate losses caused by residents’ negligent and accidental acts based on the indemnification in their lease agreement –
The multi-family industry has moved toward mandatory participation regarding property damage liability coverage or renters insurance. The RLL program is not a traditional renter’s insurance HO-4 program. The RLL property damage loss waiver option is a means for residents to meet their community’s requirement. Through the RLL Property Damage Loss Waiver option program, owners and managers dramatically control their property loss ratios. Based on participation, many RLL clients have realized 5-15% decreases on annual premiums from P&C carriers. As such, RLL materially improves NOI.
RLL’s services include:
- master corporate-based $100,000 property damage loss waiver option program;
- patent-pending online monitoring system that tracks resident participation;
- proprietary software, database, with monitoring and reporting systems that manage the entire process;
- an ongoing customer support and training program.
RLL is both an amenity and marketing tool. The program is capable of synchronizing data from many popular property management software systems for a seamless, simple operational exchange of information. RLL enjoys strategic partnerships with a wide variety of insurance agencies and insurance professionals and is available throughout the United States.
In addition to providing the RLL property damage loss waiver program to the multi-family apartment industry, the company also serves:
- Student housing (SLL)
- Senior housing
- Assisted living
- Military housing
- Condominiums and co-ops
- Single-family home rentals
- Mobile homes and manufactured housing.