The biggest challenge these landlords face is knowing what policy they need to protect their rental properties.

To help, State Farm and Rentalutions co-hosted a thirty-minute webinar to explain the insurance needs of independent landlords. Property owners from across the country joined the webinar live, and even more have watched the recording.

In the webinar, State Farm and Rentalutions discussed the following topics:

• How rental property insurance is different from homeowner’s insurance
• How insurance benefits rental property owners
• What is and is not covered by rental property policies
• The importance of renters insurance for tenants
• Questions submitted by participants

State Farm P&C Underwriting Consultant Sherry Parker, CPCU, CLU, explained the four components of a rental owner’s policy; dwelling coverage, personal property coverage, loss of rents coverage, and liability coverage. These coverage’s are unique to a rental owner’s policy and are generally different from what’s included in a homeowner’s policy.

Landlords can buy additional coverage to cover damage from floods and earthquakes. Some landlords may also benefit from an overarching umbrella policy.

There are different policies for different types of rental properties. The different policies cover single family homes, duplexes, condo units, and apartment buildings.

This webinar is part of ongoing efforts by State Farm and Rentalutions to help landlords manage their small business. Both companies recognize the benefits of educating customers and finding the best product for each customer’s situation.

Ryan Coon, co-founder and CEO of Rentalutions said, “Our goal is making renting easy for landlords and their tenants. One aspect of being a great landlord is having the right insurance coverage. State Farm is the largest property insurer in the country, and has been a great resource in helping educate our landlords on their insurance needs.”

To learn more about the different insurance needs of landlords, read the Rentalutions Guide to Landlord’s Insurance or contact a State Farm agent.

Finally, if you are a landlord who isn't using Rentalutions, you can save time by managing your properties online. Create an account now for free, and get access to special discounted pricing courtesy of State Farm.

The rental process can be complex, time-consuming, and frustrating. Historically, these DIY landlords haven’t had access to the same tools or resources as big real estate investors -- even though they manage 55% of the rental market.

As the largest property insurer in the country, State Farm recognized the challenge faced by these small business owners. Rather than develop solutions on their own, the insurance giant has developed an affinity relationship with digital innovator Rentalutions to provide online resources for DIY landlords and renters.

For State Farm, the relationship goes beyond insurance.

“Innovation is integral to improving the customer experience,” says Pat Culligan, Assistant Vice President – Marketing for State Farm. “Young, innovative companies like Rentalutions help State Farm meet the changing needs of customers by providing solutions that help life go right.”

Rentalutions, a four-year-old startup, provides a simple online property management tool. It helps DIY landlords find tenants, access credit reports, create and sign digital leases, and collect rent –all online and in one place. Renters also benefit from the convenience and privacy offered by the platform. For renters, it’s possible to make payments online securely, eliminating the need to mail a check or pay rent in person.

Ryan Coon, co-founder and CEO of Rentalutions says they started the company to help people like Royce. 

“We started Rentalutions four years ago to help make renting easy for DIY landlords. Historically, rental owners had two options – hire an expensive third party manager, or do things entirely on their own. By bringing together all of the tools and resources owners need to one place, with Rentalutions, doing it yourself no longer means doing it alone.”

Since March 2015, Yorgason has been using Rentalutions to help him streamline his property management.

“Rentalutions has attracted leads for our rental properties, coached me to better qualify those leads, simplified the rent collection process and given me several extra hours a month. I am far more efficient and effective now than prior to using Rentalutions."

Diane Tavarez is a DIY landlord in California who has had an equally positive experience.

“Rentalutions has helped me on many levels," says Tavarez. “As a landlord, Rentalutions has helped me appear more professional and BE more professional. This is the most useful program I have ever found.”

Rentalutions is free for landlords managing one unit, with premium plans available for landlords managing multiple rental units. To help offset the cost for landlords managing multiple units, State Farm has an exclusive offer with Rentalutions. It helps reduce the price of the subscription fee and makes managing a small business easier. Landlords can visit the State Farm-Rentalutions website to sign up. Individuals who manage two or more properties will receive a 25% discount off of their monthly Rentalutions subscription fee for the first year.