Renters Protection

Renter’s Insurance: Renter’s Protection Charges: · Renter’s Protection Charges can not be reversed on the resident ledger for any reason. · If the charges are incorrect with Regional approval the site may enter a concession or write off to LOST to offset the renter’s protection charge. How to Pull the Resident Insurance Status report: 1. Go to the Reports, SDE and Tasks tab. 2. Reports. 3. Leasing and rents reports. 4. Management. 5. Renters Insurance Status Report. 6. Click Generate next to the report. 7. Change the Format to Excel Export, then Generate. How to Read the Resident Insurance Status Report: · Carrier-This is the insurance provider. · Status: o Active-The resident has a current active insurance policy. o Renters Protection-The resident doesn’t have insurance and is being charged the $25 Renters protection charge. o Cancelled- The resident’s policy has been cancelled and they will be charged the Renters protection charge. o Renters Protection (Reason-due to non-payment) This is an eRenter’s Plan that was cancelled for non-payment. · Received: o Yes-The site has a copy of the insurance policy. o No-The site does not have a copy of the insurance policy. o N/A-Resident has either e-renter or no insurance policy. · Email Date-The date the email reminder for policy expiration or cancellation was made. · RP* charged-This is the date resident was charged the $25 Renter’s Protection Fee. Policy · It is the responsibility of the Community Manager to ensure compliance with the policy. · Every new lease and renewal lease during the Pegasus management period will require a valid insurance certificate for liability insurance before keys can be given to a new move-in or a renewal lease can be completed. · eRenterPlan insurance will automatically update information into the lease information screen. · eRenterPlan will force place renter’s insurance when the resident’s policy expires and when an updated proof of insurance has not been uploaded. RenterProtection Insurance will be reported on the 1st day of the month following the expiration, when an updated certificate has not been received. · RenterProtection insurance cannot be reversed for the month in which it was charged. · Residents may use other third party insurance providers but the landlord must be listed as an additional interested party as follows: o [[Property Name]-[[Management Company]] o P.O. Box 115009 o Carrollton, TX 75011-5009 · All non-eRenterPlan insurance policies must be manually uploaded into the system and the insurance information screen must be manually populated.