Have a Question?
The following are frequently asked questions regarding the program. Should your question not be answered below, feel free to submit your own question.
How can RentShield® help increase my occupancy?
High initial move in costs can deter many potential tenants. Eliminating the need to ask for security deposits and last month’s rent upfront provides a more affordable option, which can help increase your occupancy.
How will I benefit from RentShield®?
RentShield® guarantees defaulted rent is paid to you; meaning you will still receive your monthly rental income if the tenant breaches the lease agreement. The program guarantees payment of rent in arrears for up to six months, ensuring rent is paid within 30 days of the due date.
How can I be sure that my defaulted rent will be paid?
RentShield® incorporates every viable method to ensure your rent is paid in the event a tenant defaults. To make this promise possible, RentShield® has partnered with reputable insurance carriers* to underwrite the program.
Does RentShield® require a minimum portfolio size?
No. RentShield® is available to both single and multifamily properties.
What collection procedure does RentShield® use?
RentShield® has partnered with National Credit Systems, Inc. who provides collection of apartment-related debt. National Credit Systems, Inc. was founded in 1991 and its primary purpose is debt and collections for over 12,000 apartment communities throughout the country.
How do my tenants qualify?
If you currently have a tenant screening process in place, and RentShield® has approved the process, your tenants are instantly approved. Simply forward the application information to us for processing, along with the signed lease agreement, and you will receive your “Letter of Approval” for your file.
If RentShield® is administering the tenant screening, you will be provided with Tenant Applications from RentShield® and will be required to have your potential tenants complete our Tenant Application and forward it to RentShield® via fax.
Can I use RentShield® as an incentive at Lease Renewal time?
To keep your existing tenants at lease renewal, RentShield® can be used as a tool for retention and renewal of qualified residents. With RentShield®, there is no need to collect security deposits, meaning you can offer to give the security deposit back.
What if a tenant does not qualify for RentShield®?
In the event a tenant does not qualify, you can still accept them as a resident on your premises. However, the unit will not be covered by RentShield®.
What if I have more questions about RentShield®?
Feel free to call us at 1-800-770-8950 or e-mail us at info@rentshield.com
* Disclaimer: All insurance products are subject to availability and qualifications. Certain terms, conditions, and exclusions may apply. Not all affiliates are licensed in all states and not all products are available in all states. Products of the companies are offered by those companies and the authorized agents of the companies.