TenantTrack Plus is a risk management tool that protects the Association, the investor owner and the tenant. The combination insurance policies held by the respective parties creates a vital risk umbrella for everyone. Fires seldom happen, but water damage is very common in attached homes. Risk for deductibles looms large in water claims. Having tenant insurance, owner insurance and Association insurance, all with gap coverage, protects everyone from financial disaster. Plus, in 99% of properties, owners are required to provide this information. TenantTrack Plus provides an easy to use platform to satisfy your Covenant requirements and to centralize your property documents.
The Board of Directors are volunteers and generally need professional full time assistance overseeing the leasing in their community. Most cited reasons for outsourcing the administration of leased units are primarily for risk management, to protect the interests of all owners and to make sure that leasing ratios defined in the Covenants are followed and managed effectively.