Frequently Asked Questions
What is TWP?

TWP is a revenue enhancement program for Multi-Family owners and managers funded by the tenants. TWP allows owners and managers to realize the full potential of their Multi-Family real estate.

What is the experience of the principals?

TWP is owned and operated by highly skilled CPA’s, Attorneys, Real Estate Professionals, and Insurance Professionals. TWP’s owners, officers, and directors have been representing large and middle market real estate firms for the past 30 years. Our core clients are privately held and have a diverse portfolio of real property.

How much risk do I have to take on?

TWP is designed to cover your commercial insurance deductible. Your level of exposure does not change but now this exposure is fully funded by your tenants.

Will I lose tenants?

Apartments turn over every 18 months. We want to implement this program for new tenants. For that rare tenant, who you think you are going to lose, who the cost of insurance is the difference between eating and not eating, don’t have them sign the lease addendum. Furthermore, this should give the tenants peace of mind that if they do damage your property, you are not going to come after them. All of our clients begin with that concern and the fact of the matter is they are not losing tenants because of the program.

How difficult is it to implement TWP?

Implementation is seamless. A policy is written between the apartment community and Property Owners Protection Insurance Company, LLC. When a new tenant wants to move into the community, they will be forced to either provide their own renters insurance or join TWP. If they enroll in TWP, they will be billed monthly just like rent. Premiums are handled like RUBS. Tenants are billed in advance and premiums are paid in arrears after collecting from the tenant.

What's covered under the policy?

The policy covers the owner’s property for fire, smoke, explosion, water damage, and falling objects. There is no coverage for personal property of the tenants.

How long does it take to roll out?

Once engagement letters have been signed, the program can be rolled out within a month.

How much work for my property managers?

TWP is a turn-key solution to tenant insurance. We handle everything: structuring, formation, management, underwriting, and compliance, coordination of actuaries, risk managers, auditors, and CPA’s. We also train your property manager on techniques to maximizing program absorption. Once a tenant signs up, there is no more work for the property manager.

Am I selling insurance?

You are not selling insurance. You are buying insurance for your property that is being funded by your tenants.

Do I need an insurance license?

Since you are not selling insurance, you do not need an insurance license.

Why should I use TWP?

TWP will increase your net operating income, build long term wealth, and better protect your property from negligent tenants. TWP brings out the full potential in your multi-family real estate portfolio.

Can I just get a fee and not take on any risk?

If you do not want to take on any risk, we can offer the same exact program as the competition. We will give you $2 per tenants and we will take on all the risk. But, since we pride ourselves on beating the competition, we will throw in an additional 15% of the net profit. This program is called the TWP Participating Fee Program.