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Updated 22 days ago, 10/30/2024

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3
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1
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Mark Esperti
1
Votes |
3
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Surplus Insurance Line for Student Rentals

Mark Esperti
Posted

I'm currently doing my due diligence on a multifamily that's located within a college campus.  It's current tenants are not students but my plan is to replace the tenants with students within the year after purchase.  

My insurance provider has given me a warning that this will change my insurance from a standard dwelling/fire to a surplus line, specific to undergrad tenants.  The premium will go from $4k to nearly $12k.  How are landlords with student rentals handling this?   Do most landlords just keep this under wraps?

Thanks in advance!

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