Commercial Program
The AssureLease Commercial Program provides Tenants with easy entry into a new commercial space, eliminating the need for a Letter of Credit and other traditional barriers to entry. The program provides coverage to Landlords in the event of tenant default on rent payments, skips and evictions. Other coverage can be added by endorsement. AssureLease is ideal for a large Landlord looking to have a wide variety of businesses in their space while eliminating the risk traditionally associated with taking on unproven Tenants and business entities.
AssureLease is ideal for a large Landlord looking to have a wide variety of businesses in their space while eliminating the risk traditionally associated with taking on unproven Tenants and business entities.
Security Deposit Problems:
1. Cash is difficult for tenants in an economic downturn
2. Cash is problematic for owners who may lose it to a trustee in the event of bankruptcy
3. Letters of Credit are not easily obtained by tenants due to collateral requirements and increasing costs
The AssureLease™ Solution:
1. Insurance policy owned by the property owner
2. Premium paid by tenant in lieu of a security deposit
3. Provides coverage equivalent to 12 months rent, some of which can be applied to legal fees or other eviction costs as well as excess damages
4. Available by endorsement at modest additional cost:
5. Unamortized tenant improvements
6. Real estate brokerage commissions incurred to re-lease
7. Premiums are tax deductible by tenant
AssureLease is ideal for a large Landlord looking to have a wide variety of businesses in their space while eliminating the risk traditionally associated with taking on unproven Tenants and business entities.
Security Deposit Problems:
1. Cash is difficult for tenants in an economic downturn
2. Cash is problematic for owners who may lose it to a trustee in the event of bankruptcy
3. Letters of Credit are not easily obtained by tenants due to collateral requirements and increasing costs
The AssureLease™ Solution:
1. Insurance policy owned by the property owner
2. Premium paid by tenant in lieu of a security deposit
3. Provides coverage equivalent to 12 months rent, some of which can be applied to legal fees or other eviction costs as well as excess damages
4. Available by endorsement at modest additional cost:
5. Unamortized tenant improvements
6. Real estate brokerage commissions incurred to re-lease
7. Premiums are tax deductible by tenant
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