Rent Default protection is contract that protects landlords from the loss of rent due to tenant default ONLY. Whenever a tenant stops paying, RentShield will pay the rent on a monthly basis from the period the tenant defaults to the time a new lease is signed or the protection period is up, which ever one comes first.
Each contract protects specific lease and it is renewable yearly. Landlord can purchase
protection from 1 month to 6 months.
How it works:
- 1. Landlord completes the application with required documentation
- 2. JP&C underwrites contract
- 3. If lease is approved, Landlord pays premium
- 4. Landlord signs contact
- 5. Protection begins
The claim process is very simple 4-step process. It is easier becuase JP&C manages the protected property.
- Step 1 - Landlord files eviction against the tenant
- Step 2 - Landlord files a claim
- Step 3 - JP&C conducts short claim assessment
- Step 4 - JP&C begins payment