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As mandated renter's insurance programs proliferate in the apartment sector, operators look to tactics from the auto and mortage industries to fill coverage voids.
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New York-based specialty insurance provider Assurent has acquired SureDeposit, a provider of alternatives to resident security deposits.
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Experts like Wadsworth say many multifamily firms—particularly those without risk management units—are not likely to fair as well with renewals this year as property and liability insurance costs continue to increase due to the overall weak economy.
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On the heels of the 2009 hurricane season, a coalition of insurers, public officials, risk experts, builders, and conservation groups have released a blueprint of policy changes and common sense actions likely to reduce hurricane-related economic losses along U.S. coastlines by as much as half.
Insurance premiums fall at multifamily properties, according to NMHC survey.
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While still in the minority, the number of renters who currently carry renter's insurance may surprise you. According to “What Renters Want”—an online survey of 1,500 active renters across the country conducted by Apartments.com—42.5 percent of apartment residents have a policy in hand...
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RealPage subsidiary and point-of-lease systems provider LeasingDesk has launched a new insurance supplement offering multifamily property owners a policy that protects against financial loss due to resident-caused damages from fire, smoke, water, or explosion.
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That screeching noise you're hearing is coming from Florida. It's the sound of a once white-hot apartment sales market grinding to a halt.
It was 5:20 a.m. on July 24, 2005, when CEO Bill Donges got the phone call: The Lane Co. condominium project under way in downtown Atlanta's bustling Atlantic Station community was on fire. The news got worse when the four-alarm fire spread to Lane's already-built Art Foundry community nearby.
Trammell Crow Residential's property insurance this year cost about 60 percent more than last year–and that's one of the success stories. Companies with portfolios that include properties in places such as Florida and the Gulf Coast (hurricane risk), California (earthquake risk), and central...
This is no fake-out: Multifamily leaders expect 2006 to be a year of recovery for the industry. Are you thinking, I've taken that bet before and lost big? Weren't '04 and '05 supposed to be years of recovery? Well, huddle up: With the national vacancy rate falling, rents rising, and concessions...
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Low interest rates created an unusual paradox for the multifamily industry in 2003. By making homeownership affordable, low rates hammered property owners on the revenue side. But they also lowered the industry's cost of capital, made development more feasible, and contributed to a trend toward...
After four hurricanes leveled parts of Florida last fall, they left in their wake apartment owners picking up the phone to dial their insurance agents. But many owners didn't exactly get good news. Because of high deductibles, caps on debris-related damages and cleanup, and per-building deductibles...