Eviction and Pet Mitigation Guarantee
At TransCity Property Management, Inc., we understand that owning a rental property can come with certain risks. That's why we offer a risk guarantee that covers two of the biggest risks associated with owning rental property: evictions and pet damage.
Under our guarantee, if costs associated with eviction fees or pet damage exceed the tenant's security deposit, we will reimburse the owner up to $1,000 per lease. To be eligible for this guarantee, the owner's account must be in good standing with no violations of the management agreement. The termination of the management agreement will immediately terminate this guarantee, and TransCity Property Management, Inc. will not be responsible for any claims, either past or future.
| Event | $ Coverage Amount |
|---|---|
| Eviction legal fees for non-payment of rent | $1,000 |
| Pet Damage | $1,000 |
*Maximum payout per lease not to exceed $1,000
To qualify for this guarantee, the tenant must have been procured by TransCity Property Management, Inc. and on a TransCity Property Management, Inc. lease with a start date after January 1, 2022. If the tenant defaults on any lease provision, TransCity Property Management, Inc. can start legal action for eviction. All legal fees and pet damage will first be billed to the tenant. TransCity Property Management, Inc. will first attempt to collect funds from the tenant to reimburse the owner. If this doesn't happen, TransCity Property Management, Inc. will pay any amount over the security deposit up to the maximum payment. TransCity Property Management, Inc. will have the first claim position against the tenant for any payments recovered. The maximum payout by TransCity Property Management, Inc. will not exceed $1,000 per lease. All payments will be made after the tenant vacates and TransCity Property Management, Inc. completes the security deposit. Any lease or pet administration fees charged to the tenant will be retained by TransCity Property Management, Inc..
This pet guarantee applies only to animals approved by TransCity Property Management, Inc. after January 1, 2022, and does not apply to unapproved animals. This 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, or any unforeseen evictions caused by any government intervention. It also does not cover evictions if the owner initiated the removal of the tenant and only covers evictions for nonpayment of rent.
With our risk guarantee, owners can relax knowing that TransCity Property Management, Inc. has their back.
WHERE TO FIND US
Designated Broker
Charles Brown
