Tenant neglect and crime scores are affecting premium trends
In recent years, habitability claims have increasingly become a significant concern for landlords across the United States. Factors such as climbing rents, overcrowded housing conditions, and growing institutional ownership of rental properties have all contributed to this upward trend.
Consequently, landlords are now navigating a challenging legal and insurance landscape, particularly in regions known for tenant-friendly laws.
With rising jury awards and increased involvement from attorneys actively seeking out tenants with potential habitability issues, landlords face heightened financial risks. This scenario is further complicated by insurance carriers narrowing coverage and imposing stricter exclusions, particularly in states with historically high claim frequencies like California.
Chris Murphy, executive vice president at Amwins in San Francisco, highlighted key factors driving this trend and outlines strategies landlords can ado