All Forum Posts by: John R Bongiovanni

It appears that Travelers (and probably many others) have decided residential policies are not allowed for multiple investment properties.

We are looking at commercial insurance for our residential properties but are finding it difficult to navigate the options since residential properties really don't fit the commercial insurance model very well.

What is everyone else doing with respect to residential investment property insurance?

We have about 20 doors and Travelers has told us they will not renew!

All of our properties are in the Denver metro area.

They are all in 1970s thru 1990s built bedroom communities in Denver suburbs, no mountain fire risk, no flood plain, etc, etc.

We never make claims so it is not as if we are a bad risk customer!

I thought I would give everyone an update. I decide to call Waivo direct and ask them EXACTLY how this works with Furnished Finder and they were much better in explaining how it works.  All you need in Furnished Finder is have your home listed there.  You DO NOT need to subscribe to the rest of their available tools.  That is not a problem. I do have my homes listed on Furnished Finder. I choose to use Zillow for contracts and billing and I can still do that.  When I called Furnished Finder direct, they really had no clue how Worry Free Waivers worked!

I don't want to be tied to Furnished Finder exclusively for MTR management.  If Waivo is only available via Furnished finder for a MTR security deposit alternative , I am not willing to sign up for that.  What happens if I get an MTR lead from Zillow or MiniStays?  Is there a company that offers an alternative independent of a specific platform? 

Thanks Shannon  Does it cost less to go straight through WAIVO?  I saw zero advantage (perhaps negative) in Furnished Finder being in the middle.

Does anybody have recommendations on the various alternatives to requiring a full security deposit?

I know there is surety bond process and there a a few companies that appear to offer a service (Like Rhino)

Furnished Finder has a new feature called Worry Free Waivers but when I tried  to better understand their process, it was clear they have not done a good job of vetting this out.  They have outsourced the entire process to WAIMO which appears sketchy. 

Full security deposit for a three month MTR is causing me to lose business and I need an alternative!

I have several multi unit MTR furnished rentals and I am ready to back away and let a property manager handle the day to day operation.  Does anyone have any experience with MTR property managers in the Denver Metro area?