Tenant Default Insurance
Protect your investment
Tenant Default Insurance protects your residential investment property against tenant default, providing peace of mind and eliminating landlord headaches.
Fudge Insurance partners with Steady & Rent Rescue to offer a policy that reimburses a residential landlord up to 6 months of lost rent due to tenant default and, in the event of an eviction, pays $1,000 of legal expenses. All for an average annual premium of $300 per unit (that’s $25/month!).
- What Tenant Default Insurance Covers
- What Tenant Default Insurance Doesn't Cover
- Do my tenants qualify?
- Up to 6 months of lost rent when default is due to abandonment or eviction
- Up to 3 months lost rent when default is due to court order, military deployment or tenant death
- Pays $1,000 of legal expenses to pursue eviction
- Single family homes, townhomes, condos and multifamily dwellings (i.e., long-term rentals)
- Property damage or liability
- Vacation, seasonal or short-term rental units
- When a tenant temporarily vacates the unit due to uninhabitability
To qualify, a landlord’s tenant must meet the following criteria:
- No bankruptcies or evictions during the last 5 years
- No rent currently in arrears or in arrears for 30+ consecutive days during the last 12 months
- Tenant must be able to satisfy financial terms of lease
Tenant Default Insurance can often be passed along to the tenant or taken as a tax deduction (consult your accountant or tax attorney to see if you qualify), and is backed by one of the largest insurers in the world. Get a quote today:
