Student Housing ProgramTenant programs that make economic sense.
Student Housing Program
The Tenant Waiver Program (TWP) is ideally suited for student housing as students can accidentally damage property and are less likely to obtain typical renters insurance. TWP is affordable and will provide a valuable new revenue stream increasing net operating income.
Requiring students to have renter’s insurance is good business, however most students don’t have easy access to coverage nor recognize its value. As a convenience for your students and to protect the property from uninsured damage liability, our program offers an affordable alternative to renter’s insurance that protects the property and provides the owner/manager a new revenue stream.
When leasing a bed, the student will be required to provide proof of insurance or accept an affordable waiver from the facility for $11 a month. The waiver satisfies the lease provision requiring the student to carry his/her own renter’s policy and waives the right to hold the student responsible for accidental damage to the facility. Our waiver does not protect the student from his/her obligation for excess wear, pet damage or intentional acts of vandalism.
The waiver fee is ultimately deposited into a Captive Insurance Company / Segregated Business Unit owned by an entity appointed by the owner or management company self-insuring the most profitable part of a renter’s insurance policy, accidental property damage. With TWP you own the solution and have an opportunity to profit from the risk rather than receive a nominal commission or administration fee from a third party insurance provider.