Protect your rental income against tenant default!
When tenants default on the rent, it can take months for commercial property owners to regain position of their property and seek out another tenant. Meanwhile, property owners are incurring loss of rental income and legal expense -- all while continue paying their mortgage payments, real estate taxes, property management fees, and any additional expenses in order maintain their investment.. a cash flow nightmare!
Introducing Commercial Real Estate Rent Default Insurance, CRERDI®, a gap insurance coverage that minimize the financial losses by protecting the property owner's rental revenue stream.
CRERDI® protects commercial property owners against loss of rental income during tenant eviction events. It also provides reimbursement for the tenant's leasehold improvements once the tenant is removed, and it covers legal expenses associated with the eviction.
Reimburses up to 6 months of lost net rental income due to eviction.
Pays $500 of legal expenses to pursue an eviction.
Submitting a claim and getting paid is quick and easy.
Premium starts at $850 a year, a small price to pay for the security of knowing you won't have to tap into your savings while evicting your tenant.
Cost of coverage can be passed along to your tenant as a nominal increase to their monthly rent or insurance charges.
Protect your investment from loss of tenant/leasehold improvements that were fronted to tenant.
Cost of coverage can be tax deductible..
Eliminate the bad debt expense from your balance sheet and protect your cash flow.