It would be logical to blame rising insurance rates on the Covid 19 crisis but the truth is that property insurance rates have been going up for the past few years even before the virus entered our lives. The crisis has created a “new normal” for many people but it is not the only thing responsible for the rise in insurance rates. Natural disasters and social unrest are also to blame. In addition to raising premiums, many insurance companies are responding by restricting some coverages and eliminating some risks that might have been covered in the past. In short, property owners will pay higher premiums to get less coverage.
Topics: Asset Protection, Rental Property, Investment Property, Master Policy
The COVID-19 pandemic has transformed the rental market. Before 2020, average occupancy rates for primary multifamily markets were on an upward trajectory. Due to the widespread adoption of remote working arrangements, however, secondary and tertiary rental markets experienced positive net absorption last year.
Topics: Work From Home, Tenant Liability, Rental Property, Investment Property, Master Policy, Insurance Claims, SFR
While investment into the build-to-rent property market proves significant despite a global pandemic, more buyers are gravitating towards single-family rental units. The US has shown surprising resilience in the build-to-rent sub-market.
Topics: Property Management Solutions, Master Real Estate Insurance Policy, Tenant Liability, Rental Property, Investment Property, Master Policy
If you manage multiple properties, you’re well aware that collecting on-time rent has always been a struggle. Whether the reason for late rent payments is getting lost in the mail, poor communication with tenants, the renter just doesn’t have the funds available for rent at the due date, or they simply forgot it, the bottom line is it affects your cash flow.
Topics: Tenant Liability, Rental Property, Investment Property, Master Policy
As you can imagine many factors come into play when determining the cost for insurance to cover a real estate portfolio. Knowing how these different factors play into each other can influence and strengthen your overall real estate investment strategy. It is important to note that every situation is different, but some there are some general rules of thumb to consider. If you’re on the fence about whether you should purchase a new property, estimating the insurance cost can help determine whether or not you move forward with the purchase.
Topics: Master Real Estate Insurance Policy, Tenant Liability, Investment Property, Master Policy