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Real Estate Investors, Stock Traders, and Business Owners guide to preserve their wealth, protect their assets, and prosper in the future.
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Saturday Jul 13, 2019
Saturday Jul 13, 2019
If you’re a real investor, then you probably know what it’s like to go months without rental income coming in through no fault of your own. It gets a little scary. Today, Michael Bowman of Bowman’s Business Brief and Anderson Business Advisors talks to Aaron DiCaprio, CEO of Rent Rescue, about how the stop of rental income, even for just a couple months, can be detrimental.
Highlights/Topics:
- Does this strike a chord? Tenant loses everything, and you lose rental income
- Accidental Landlord: People who rely on rental income and cash flow
- Mailbox Money: Rent Rescue protects clients’ cash flow investment and provides peace of mind
- Risk Management: Insurance mitigates your risk of loss
- Perfect Tenant a.k.a. Bigfoot: You hear about him, but you never find him because he’s a figment of your imagination
- It’s not personal, it’s just business: You can vet your tenants (i.e., background checks, screenings), but life happens and sometimes they just can’t pay the rent
- Rent Rescue’s rent default insurance provides up to six months of loss when tenant defaults on long-term lease and $1,000 for legal expenses
- Rent Rescue doesn’t cover situations when landlord does something to create reason why tenant isn’t paying rent
- How much is Rent Rescue? About $300 annually for premium, and it’s tax deductible
- How does Rent Rescue work? User-friendly online platform offers quick and easy application and access process for insurance; file a claim, and get paid/reimbursed
- Insurance policy includes subrogation clause, where insurance company steps into landlord’s role when claim is filed and has rights to pursue collection against tenant
- Multiple Investment Properties: Rent Rescue is applicable for:
- Smaller, do-it-yourself, accidental landlords who have a few investments
- Larger career investors with big portfolios
- Pay it forward and give back: Autism Speaks and Multiple Sclerosis Society
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