Tenant Protection Plans and Insurance are popular topics in the self-storage industry. Although both provide similar functions, they have distinct and vital differences. Keep reading to learn why you should be offering Tenant Protection at your self-storage facility!

What is Tenant Protection?

Tenant Protection is a convenient way for an owner to offer an affordable form of protection to their tenants. Offering Tenant Protection is free of cost to the owner; in fact, owners can generate revenue from these plans! Tenant Protection provides coverage against a number of major issues such as: theft, vandalism, fire/smoke damage, rodent/vermin damage, and more!

How does Tenant Protection benefit your customers?

Your customers will have peace of mind knowing they are covered from most major problems, and there is no deductible!

How does Tenant Protection benefit you and your business?

Tenant Protection is not insurance and therefore does not have the same red tape and regulations, so no licensing of any kind is required. There are also fewer regulations on compensation; meaning that you can even generate revenue for your facility!1 Victor Gonzalez (Easy Storage’s Tenant Protection Specialist) says: “Facility owners should offer Tenant Protection Plans because your tenants won’t have to worry about making a claim against their homeowners or renters insurance. Additionally, by offering protection plans, you reduce your liability and have a set procedure ready if tragedy does happen. Even better, you now have an additional source of revenue for your self-storage business”.

Easy Storage Tenant Protection Program

Easy Storage Solutions now offers in-house Tenant Protection Plans (TPP) for our clients! These plans are fully integrated into our management software, are backed by Easy Storage’s dedicated support team, and offer the same great benefits as previously discussed! Additionally, Easy Storage Solutions provides online claims support for your tenants, keeping your involvement to a bare minimum! There are various plans available for your tenants; Click here for more information!

References:

  1. Schaller, M. (2018, February 05). The Facts About Self-Storage Tenant Insurance vs. Protection Plans. Retrieved from https://www.insideselfstorage.com/insurance/facts-about-self-storage-tenant-insurance-vs-protection-plans
  2. Tharpe, S. (2017, November 28). Why You Should Offer a Self-Storage Tenant-Insurance Program and How to Get Customer Buy-In. Retrieved from https://www.insideselfstorage.com/companies-and-products/why-you-should-offer-self-storage-tenant-insurance-program-and-how-get