Unified Residential
A 5,000 unit owner-operator in the Midwest and Texas, specializing in Class A and B multifamily properties.
Category
Category
Owner-Operator
Owner-Operator
Tech Stack
Units
Units
5,000
5,000
Unified Residential
A 5,000 unit owner-operator in the Midwest and Texas, specializing in Class A and B multifamily properties.
Category
Owner-Operator
Tech Stack
Units
5,000
The Challenge
Unified Residential reached out after Assurant announced they were ending their FlexDeposit program with only a 30 days notice. Their renter’s insurance provider, ePremium, couldn’t confirm COI compliance across their portfolio when asked.
Unified Residential reached out after Assurant announced they were ending their FlexDeposit program with only a 30 days notice. Their renter’s insurance provider, ePremium, couldn’t confirm COI compliance across their portfolio when asked.
They chose to move all their programs over to Insur3Tech, giving us less than 30 days to complete the transition.
They chose to move all their programs over to Insur3Tech, giving us less than 30 days to complete the transition.
Our Strategy
After completing their portfolio-wide resident COI audit, we realized only 55% of residents had an active insurance policy. So we first needed to force-place the non-compliant residents on Insur3Tech's Liability program as soon as possible...
After completing their portfolio-wide resident COI audit, we realized only 55% of residents had an active insurance policy. So we first needed to force-place the non-compliant residents on Insur3Tech's Liability program as soon as possible...
This immediately unlocked about $30,000 in monthly NOI for the Unified Residential team, and removed the risk of non-compliant residents leaving their properties exposed to every imaginable incident. Next, we updated their Lease Agreements to not only include liability insurance coverage options, but also gave residents the option to choose between a Traditional Refundable Deposit or a non-refundable Deposit Alternative for all new leases moving forward. This drove operational efficiencies for their leasing teams, saving them hours a week from: chasing around and manually uploading insurance COIs, trying to collect and transfer deposit funds, or spend time and money mailing refund checks to previous residents. We also set-up the easiest possible onboarding experience for their residents with a one-step checklist to move-in, which was to simply sign their lease agreement and that's it. The total roll-out took us about 21 days to complete, and the results we've added since can be found below.
This immediately unlocked about $30,000 in monthly NOI for the Unified Residential team, and removed the risk of non-compliant residents leaving their properties exposed to every imaginable incident. Next, we updated their Lease Agreements to not only include liability insurance coverage options, but also gave residents the option to choose between a Traditional Refundable Deposit or a non-refundable Deposit Alternative for all new leases moving forward. This drove operational efficiencies for their leasing teams, saving them hours a week from: chasing around and manually uploading insurance COIs, trying to collect and transfer deposit funds, or spend time and money mailing refund checks to previous residents. We also set-up the easiest possible onboarding experience for their residents with a one-step checklist to move-in, which was to simply sign their lease agreement and that's it. The total roll-out took us about 21 days to complete, and the results we've added since can be found below.
The Results
Resident COI Compliance
Resident COI Compliance
Resident COI Compliance
Added Monthly NOI
Added Monthly NOI
Added Monthly NOI
Resident Opt-In Rate
Resident Opt-In Rate
Resident Opt-In Rate
Get started
Owning insurance starts right here.
Book a 30 min strategy call and we'll walk you through joining the real estate industry's first syndicated insurance group.
Get started
Owning insurance starts right here.
Book a 30 min strategy call and we'll walk you through joining the real estate industry's first syndicated insurance group.
Get started
Owning insurance starts right here.
Book a 30 min strategy call and we'll walk you through joining the real estate industry's first syndicated insurance group.