Sewer and Pet Damage Coverage Options Offer Renters Additional Protection
(May 20, 2010)—LeasingDesk, a leading provider of risk mitigation systems for the multifamily industry and a wholly owned subsidiary of RealPage, Inc.(www.realpage.com), today announces new sewer/water backup and pet damage endorsements for its flagship product, eRenterPlan renter’s insurance (www.erenterplan.com). The offerings provide policyholders greater protection from financial loss due to personal property damage from plumbing backups and excessive pet destruction to an apartment unit.
“As a leader in renter’s insurance offerings specific to the multifamily industry, we put significant effort into tracking and evaluating the claims we receive to determine the most common damages impacting apartment owners and residents,” explained David Carner, president of LeasingDesk. “Designing these premium-based endorsements to work in conjunction with eRenterPlan ensures we deliver a comprehensive solution with the most robust coverage, providing residents and owners with increased protection.”
The water peril component under eRenterPlan is one of the most comprehensive, including broad roof leak coverage to protect the resident’s contents. The water/sewer coverage endorsement extends to plumbing backups from sewer or drain lines, as well as overflows from sump pumps. Under this new endorsement, a resident can receive reimbursement for personal property loss up to the limit under their eRenterPlan policy. The endorsement is available for a nominal premium of $12 per year.
The pet damage endorsement works in conjunction with a property’s security deposit or pet deposit indicated in the lease agreement. For $18 per year, residents gain up to an additional $500 above the specified deposit for damage to the apartment caused by their pet, such as stained or ruined carpet, chewed-up base boards, or scratched doors. The eRenterPlan renter’s insurance policy includes liability coverage with no restriction on dog breed, and affordable medical coverage for pets through 24 PetWatch, to provide the most inclusive protection associated with resident pets.
eRenterPlan is backed by “A” rated underwriters and offers comprehensive contents coverage and liability insurance protection specific to the multifamily industry. The program includes contents coverage ranging from $10,000 to $40,000 up to full replacement value, liability coverage up to $100,000, the ability to name up to five unrelated insureds (roommates) on a single policy, and theft reimbursement. These comprehensive policies start as low as $10 per month, depending upon coverage limits and geographic area.
In addition to insurance solutions, the LeasingDesk product line also includes resident screening. For more information on LeasingDesk products and services, visit www.leasingdesk.com, call (888) 484-7132 or send an e-mail to sales@leasingdesk.com.
To schedule an interview with a LeasingDesk executive, please contact Karen Dodge at karen.dodge@realpage.com or at 972-820-3718.
About RealPage
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on-demand software solutions and services to the rental housing industry including a wide range of multifamily property types as well as single-family properties. Its six on-demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student housing and military properties; CrossFire® sales and marketing systems that boost occupancy and build retention; YieldStar® asset optimization systems that maximize asset valuation and investment return; Velocity™ utility management systems that accelerate payments for resident charges; LeasingDesk® risk mitigation systems that reduce a community’s exposure to risk and liability; and OpsTechnology™ spend management systems that help owners manage and reduce operating expenses. Through its Propertyware subsidiary, RealPage also provides on-demand software solutions to single-family rentals and low density, centrally-managed multifamily housing. Through its recent acquisition of certain assets of Domin-8 Enterprise Solutions, Inc., RealPage is adding additional property management systems with Tenant Pro, Spectra, i-CAM and other software solutions. Finally, RealPage also offers Infrastructure-as-a-Service to multifamily owners and operators to reduce IT costs and dramatically improve integration performance and reliability. For more information, call 1-87-REALPAGE or visit www.realpage.com.