Dougherty Insurance Agency LLC Innovative Financial Solutions Nationwide

Property Damage Liability Waiver℠

75% of unit fire and water damage losses are as a result of tenant negligence.

Renters Legal Liability LLC (RLL) has created an insurance program waiver to cover property damage losses that result from a tenant’s negligence, therefore reducing stress on the landlord’s own P&C insurance program, deductible and limit. The premium for each participating unit is additional rent added to the unit’s monthly rent bill. The landlord can make this a mandatory or elective amenity (elective only for affordable housing).

Property Damage Liability Waiver℠ (PDLW℠):
  1. Covers the cost of repairs related to tenant-caused losses
  2. Reduces owner-impacting repair and maintenance budgets – protects balance sheet
  3. Landlords that require PDLW℠ spend 45-50% less on tenant R&M expenditures
  4. Requiring unit placement in the PDLW℠ program can significantly increase NOI, asset valuation and cash flow.
RLL simplifies tenant insurance administration:
  1. Integration with property management software provides ease of billing and reporting
  2. Notice of tenant insurance default and cancellation – immediate inclusion in PDLW℠ program
  3. Automated training
  4. Simplified real-time reporting
  5. IT and customer support
Coverage Details:
  • $100,000 per occurrence for each participating unit
  • $250 deductible
  • Up to $15,000 resident personal property included (provided $100,000 unit coverage has not been exhausted)
  • Covered Perils: » Fire, Smoke, Explosion, Water Discharge, Sewer Backup
  • Mold Remediation Sublimit ($15,000)
  • A.M. Best A+, XV rated carriers
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