11. LeasingDesk Expands Gap Insurance Coverage

In addition, RealPage’s multifamily risk mitigation systems division LeasingDesk announced March 17 the availability of RenterProtection, a supplemental insurance product that provides limited liability coverage to apartment owners in the event that a renter’s insurance policy lapses, is canceled, or the renter has no insurance. Integrated with LeasingDesk’s flagship eRenterPlan renter’s insurance, RenterProtection is automatically activated when a resident’s renter’s insurance policy has been discontinued, providing owners with seamless coverage from exposure to risk. “Managing a required renter’s insurance program can be incredibly time-consuming and often inaccurate without online tracking capabilities,” says LeasingDesk president David Carner. “The ability to track enforcement of renter’s insurance policies through the property management system and have RenterProtection kick in when a policy lapses makes it easy for an owner to manage risk transfer in an efficient and cost-effective manner.” RenterProtection provides $25,000 to $100,000 in coverage for resident-caused damage under common perils including water, fire, smoke, or explosions.