Carrollton, Texas–RealPage, Inc., a provider of on-demand software and software-enabled services to the rental housing industry, has introduced involuntary unemployment insurance (IUI), giving residents of apartments and property owners rent protection in the event of an unexpected job loss.
RealPage launched the IUI endorsement in February, adding the policy coverage to its eRenterPlan renter’s insurance product, offered through its LeasingDesk insurance services subsidiary. IUI can be purchased for two months at a benefit of $500 or $1,000 per month and covers income loss resulting from layoff, involuntary termination, general strike or lockout. Payment is made directly to the property manager, ensuring that the amount of the benefit is paid directly for rent.
The IUI endorsement is currently available in most states, and nationwide availability is planned for mid-year 2011.