Rental Opportunity Growth Across the U.S.
The New York Times dubbed 2017 the “Year of the Renter.” Of course, the rental market in The Big Apple is at the top of its game; however, each year more and more investors across the country look to rental properties as a wise choice for their investment dollars.
In fact, according to the National Multifamily Housing Counsel, 35 percent of the households in the U.S. are renters. Though rental investment properties come with some liability; done right, real estate investment can earn better returns.
A large number of real estate investment opportunities are eligible for coverage under USLI policies. Whether your investment is apartments, 1-4 family dwellings or residential condominium units, USLI has a product tailored to protect the investor in the event of a covered claim.
Some product advantages for our policyholders include:
- No general liability deductible
- Defense coverage outside the limits
- Ability to consider properties under renovation
- Ability to consider different manners of ownership (LLC, corporation, individual and more)
- Monoline general liability or package options
- Ability to offer excess or umbrella coverage options for peace of mind
We’ve also expanded our eligibility to include increased limits in coastal zones (excluding wind and hail), buildings constructed prior to 1900, and pools on single-family rental dwellings or owner-occupied multi-family dwellings that are annually rented and fully fenced with a self-latching gate.
Beyond coverage, USLI offers policyholders centralized access to business solution vendors through the Business Resource Center. Some of these vendors are at the top of the list for investment property owners and can offer free or discounted:
- Background checks
- Tenant screenings
- Identity theft protection
- Safety tools
- Marketing and social media best practices
- Website design and Search Engine Optimization (SEO)
As your insureds continue to invest in rental properties, think of USLI for your dwelling business!
Please contact your regional Commercial Lines underwriter for more information or a quote.
As always, thank you for your support and business!
Contact Stacey Friel
Assistant Vice President, Senior Underwriter | 888-523-5545 Ext. 2079
Written by Ginna Briggs
June 8, 2017