Protect Your
Rental Investment
Optional protection for loss of rent, eviction costs, and malicious damage.
Loss of Rent
Eviction Costs
Malicious Damage & Theft
Landlord Protection Bundle by SureVestor
Even with strong tenant screening and professional property management, rental ownership still carries risk. A tenant may stop paying rent, abandon the property, cause intentional damage, or create eviction-related expenses that exceed the security deposit.
To help reduce that risk, 1st Rate Rentals offers owners the option to enroll in the SureVestor Landlord Protection Bundle for $50 per month, per Property (or each Unit for Multi-Family Properties).
This optional protection is designed to help landlords with certain tenant-related losses, including loss of rent, eviction costs, and malicious damage.
What is Included
Loss of Rent may Include:
Additional Benefits:
*A deductible of $1,500 per event will be applied to all Malicious Damage and Theft Claims
Frequently Asked Questions
Does every property qualify?
Most properties qualify if the monthly rent is $1,000 or more and the property is fully managed by a professional property management company. Coverage is not available for leasing-only arrangements or properties located in the five boroughs of New York City. If the owner takes the property back to self-manage, the coverage no longer applies.
Does this cover vacancy between tenants?
No. If a tenant moves out at the end of the lease and the property takes time to re-rent, that is considered a normal rental market risk and is not covered. The protection is designed for certain losses caused by tenant actions, not ordinary vacancy.
What is considered malicious damage?
Malicious damage generally means intentional, spiteful, or vindictive damage caused by the tenant with the intent to damage the landlord’s property. Examples may include punching holes in walls, tearing doors off hinges, extensive graffiti, pouring concrete down drains, or intentionally causing water damage.
What is not considered malicious damage?
Accidental damage, ordinary wear and tear, poor housekeeping, stains, picture-hanging holes, child-related damage, and standard pet damage are generally not considered malicious damage.
Can this be used to approve a risky tenant?
No. The property manager is still expected to screen tenants using normal criteria and industry best practices. A tenant who would otherwise be denied should not be approved simply because the property has this protection
What happens to the security deposit?
The security deposit is still used as allowed by law and the lease. If there is a claim, remaining security deposit funds may be applied toward the owner’s loss where applicable. This protection is meant to help when the security deposit is not enough to cover the owner’s losses.
Are there deductibles?
The only deductibles are for malicious damage or theft claims, which have a $1,500 deductible. There is no deductible for lockbox-related theft claims. Loss-of-rent claims may be reduced by remaining security deposit funds after allowable re-leasing expenses.
Is re-keying always covered?
Re-keying is only covered when it is connected to a covered claim. Standard re-keying between normal tenancies remains a landlord expense.
What if I move into the property or sell it?
Coverage is intended for residential rental property managed by a professional property manager. If the owner moves into the property, lists it for sale, begins using it for another purpose, or starts extensive renovations, the owner must notify the property manager because the coverage may need to be cancelled.
Eligibility Criteria
- SureVestor Landlord Protection Insurance is only available for properties that are managed by a Professional Property Management Agent.
- Tenant cannot be behind in rent for two (2) months prior to protection starting.
- Coverage is not available on any property with a monthly rent below $1000 or that is located within the five boroughs of New York City.
- All claims will be settled according to the lesser of the rent on the current lease, or up to a maximum per monthly rent coverage of $3000 per month.
- Coverage is subject to policy wording conditions, exclusions and limitations. You should read all documents including key facts thoroughly to ensure the product suits your needs.
Important Disclaimer
The SureVestor Landlord Protection Bundle is an optional third-party protection product offered through SureVestor and/or its applicable insurance carrier. 1st Rate Rentals and Real Estate, Inc. is not the insurance carrier, underwriter, or claim decision-maker, and does not guarantee coverage, claim approval, or payment of any claim.
All coverage is subject to the actual policy terms, conditions, exclusions, eligibility requirements, deductibles, and claim procedures. The information on this page is only a general summary and should not be relied upon as a complete description of coverage.
This protection does not replace the owner’s responsibility to maintain appropriate landlord, dwelling, hazard, liability, or other insurance coverage. Owners should review the SureVestor policy materials carefully and consult with their insurance professional if they have questions about whether this protection is right for them.
Coverage is intended for eligible residential rental properties that are fully managed by a professional property management company. Coverage may not apply if the property no longer qualifies, including if the property is taken back for self-management, used for another purpose, listed for sale, owner-occupied, or otherwise removed from qualifying rental use.