Risk Mitigation Guarantee
Question: What if my tenants’ pet causes damage?
Answer: Grace Management will pay
Question: What if my tenant has to be evicted?
Answer: Grace Management will pay
As a Grace Management owner-client you can relax and let us handle everything, including two of the biggest risks that a landlord may face: eviction legal fees and pet damage.
How can we do this?
Because our screening is so good, and our processes are so tight, we are able offer you this service.
Our risk mitigation guarantee will reimburse you up to $1,000 in eviction legal fees, or $1,000 in pet damage (to a maximum of $1,000 per lease) if these costs exceed the amount of the tenants’ security deposit.
| Event: | $ Coverage Amount |
|---|---|
| EVICTION LEGAL FEES | $1,000 |
| PET DAMAGE | $1,000 |
*Maximum payout per lease not to exceed $1,000
Plan Administration / Eligibility Requirements:
Landlord account with Grace Management must be in good standing and with no violations of the terms of the Residential Management Agreement. Termination of the Residential Management Agreement shall cause enrollment in Risk Mitigation to immediately terminate and Grace Management shall not be responsible for any claims either past or future.
Resident must have been procured by Grace Management and on a Grace Management lease agreement with a start date of July 1, 2018 or later.
In the event a resident defaults on the payment or rent, Grace Management will have the sole right and sole discretion to institute legal proceedings for an eviction.
All legal fees incurred or charges for pet damage will first be billed to the resident. Grace Management will first attempt to collect funds from resident to reimburse owner. If Grace Management does not collect these funds from resident, then Grace Management will pay these expenses within the coverage limits stated above.
All amounts due from resident for legal fees or pet damage will first be deducted from the residents security deposit, and Grace Management will pay any amount over the security deposit to the maximum payout amount. Grace Management will have a first claim position against resident for any payment(s) recovered.
The maximum payout by Grace Management per lease agreement will not exceed $1,000.
All payouts by Grace Management will be made after the resident has vacated the premise and after the completion of the security deposit disposition by Grace Management.
Any lease or pet administration fees charged to the resident will be retained by Grace Management.
This guarantee applies only to animals approved by Grace Management and does not apply if a resident has an unapproved animal. This guarantee excludes service animals and emotional support animals per Fair Housing guidelines. This guarantee excludes eviction fees for any resident on any government subsidized program including Section 8.
