Calling all senior living operators: are you requiring renters insurance in your communities? And not just any renters insurance — trustworthy, comprehensive packages that give residents great coverage at an affordable price. And of course, packages that protect your communities under a broad range of circumstances. You may already know the importance of requiring renters insurance, but perhaps you haven’t made the switch to an all-inclusive solution. Or maybe you’re still weighing the benefits of steering your communities in that direction.   Either way, we have some exciting news to share. Thanks to the dedication of team Yardi, ResidentShield — a proven risk management solution — is now available for senior living. Whether you’re an existing Yardi client or someone new to our single connected solution, we’re eager to show you how ResidentShield can protect your communities, boost resident satisfaction and more. So if you’re still unsure how something like ResidentShield can work for you, just keep reading. Introducing ResidentShield for senior living What exactly is ResidentShield? At baseline, ResidentShield offers reliable risk management plans that provide coverage to residents and protect owner assets from resident-caused loss. You can say farewell to out-of-pocket expenses and time-consuming insurance claims. With ResidentShield, the heavy lifting is done for you, and you, your community, its owners and all residents reap some pretty fantastic benefits. How it works ResidentShield offers flexible combinations to meet your needs. Whichever route you take with this integrated solution, residents access simplified renters insurance — and your communities receive maximum protection. ResidentShield enables: Comprehensive protection — safeguard your assets with ResidentShield Master Policy Program, backed by the most experienced underwriters in the industry.Reliable coverage — reach and maintain 100% compliance via ResidentShield Protection Plan, with automated tracking built into Voyager Senior Housing.Satisfied residents — provide a quick and easy claims service through ResidentShield renters insurance. No residents are denied coverage. Eligible operators can even earn revenue for assisting with program implementation and administration. That means you can cover your communities and keep residents happy, all while improving your bottom line. Benefits for senior enrollees When you choose ResidentShield, senior enrollees can:   Tap into an electronic protection programAccess discounts up to 20%Receive thorough coverageGet timely estimates for valuable assets Contact us ResidentShield is now part of the Yardi Senior Living Suite for senior living providers. Ready to learn more? We invite you to read our ResidentShield brochure. To get in touch with our team about ResidentShield, simply fill out this form. We look forward to...

It takes more than just cash on hand for first month’s rent and deposit, good credit and an acceptable background check to move into your next apartment these days. Multifamily properties are now frequently requiring new renters to provide proof of renters insurance, too. A recent article from Multi-Housing News focused on the reasons why more than 66 percent of respondents to a National Multi Housing Council survey said they now require residents to be insured. That’s a significant increase, growing 22 percent in just one year.  In fact, the percentage is now even higher, since the latest survey results were compiled in 2010. So why the new stress on carrying insurance, which most renters consider because it provides for replacement of belongings in the event of a break-in or fire? Multifamily firms are protecting themselves, too. In the event that a resident damages an apartment unit, they will be able to recoup the costs of repairs from the residents’ insurer. We spoke with Trip Stanford, a Yardi Systems industry principal specializing in risk management solutions, to gain additional insight into this growing trend.  ResidentShield renters insurance is an easy, convenient, low-cost option for renters who want to protect their belongings, and for multifamily communities who want to protect their property. Read on to see what Stanford shared about how carrying such a policy – or mandating it for tenants – can be a win-win. TBS: What insight can you give us into why more major multifamily housing providers are now requiring residents to hold renters insurance?  TS: Many management companies have experienced a property loss as a result of resident negligence and have faced significant financial loss as a result.   Many management companies now view mandatory renters insurance programs as an effective means to transfer risk to the resident-occupants of their apartment homes. TBS: What are the risks involved for multifamily firms that choose not to make renters insurance mandatory?   TS: Should a resident cause a loss (fire) without a renters insurance policy the landlord has two options:  seek monetary recovery from the resident, or file a claim against their master policy and pay a high deductible.   Having a mandatory program in place enhances the overall image of the community and provides ‘peace of mind’ for residents and landlords alike.  No more adversarial resident/landlord disputes over who is liable and ‘on the hook’ for damages.   TBS: From a residents’ standpoint, what personal benefits can they derive from being asked to purchase renters insurance?  TS: The resident gains a level of legal protection in case he/she (or a guest in the unit) is found responsible for an accidental loss at the community.  In addition, the ResidentShield Protection Plan offers the resident personal contents protection at attractive rates.  In case of damage or theft of personal property, the resident has a cost-effective means to protect their own belongings. TBS: Tell us about the features that ResidentShield offers, both for multifamily clients who might suggest their residents consider a ResidentShield policy, as well as for residents looking into an independent rental insurance purchase?  TS: The ResidentShield Protection Plan offers both liability and personal contents protection at very affordable rates.  Obtaining instant online quotes and purchasing a policy is easy via www.ResidentShield.com.  Residents of communities who offer ResidentShield are pre-approved for fast and easy enrollment and landlords obtain instant electronic policy purchase notifications.  The  ResidentShield customer care support team is available to assist residents with policy quoting and program enrollment.   Management companies report the ResidentShield program is easy to implement and administer with the on-going support of the ResidentShield customer care team for training, brochures, coverage inquiries, anything that may occur at a busy community.  Each client receives a customized program implementation schedule that accommodates the busy schedules of onsite leasing staff members.  ‘Refresher’ training is available upon request – no worries! TBS: Does Yardi have any technology offerings that...