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Announcing Landlord Studio And Lemonade Partnership

In the interest of furthering our mission to improve the lives of landlords and tenants through digital innovation, we are excited to announce a partnership with Lemonade, an insurance company powered by technology!

Lemonade’s modern approach to insurance means there is great potential to improve the tenants’ experience fo purchasing much-needed renters insurance to help protect them from the unexpected.

About Lemonade Insurance

Lemonade INsurance

Image Credit: Lemonade

If you’ve ever had to make a claim with your insurance company you know that the process is often long, tedious, and stressful. 

Lemonade is an insurance company offering homeowners and renters insurance who use artificial intelligence and an innovative business model to achieve incredible progress in streamlining an industry that has traditionally been slow and resistant to change. 

Their technology reverses the traditional insurance model. You can get a tailored online quote (and policy!) in 90 seconds.

They take a flat fee, pay claims fast (around ⅓ of the their claims are paid in seconds!), and give back to causes their policyholders care about. 

“Lemonade is a customer-centric company whose values align with our own – to improve the lives of customers through innovation and technology,” Charles Chan, CEO and Co-founder of Landlord Studio, “renters insurance is a vital policy to protect both landlords and tenants, and through this partnership, we see an opportunity to improve the lives of our customers by presenting the best possible option for tenants to get renters insurance as easily as possible.”

Why did we partner with Lemonade?

There are three main reasons we are so excited to have partnered with Lemonade.

First, renters insurance is important for both landlords and tenants offering much-needed protection to both parties against the unforeseeable.

landlord studio and lemonade renters insurance

Image Credit: Lemonade

Second, in line with our own values, they are improving the lives of their customers through the use of digital innovation, making it faster, easier and more affordable than ever to obtain renters insurance. (From as little as $5 a month).

And third, Lemonade is a Public Benefit Corporation and Certified B-Corp, which means that social impact is an embedded part of Lemonade’s legal mission and business model.

With this in mind, they have created a very popular “Giveback” program. When you get a policy, you can select a nonprofit you care about. Then, at the end of the year, Lemonade tallies up the unclaimed money left from you and others and gives up to 40% of that unclaimed money to the charities their customers choose.  

In 2019 they gave back a whopping $613,514 to 26 different charities, including the ACLU, The Trevor Project, UNICEF and more. Read more.

Learn More About Lemonade

The Process: Lemonade Insurance and Landlord Studio

In order to ensure as many people as possible have access to Renters Insurance, we’ve created several methods for landlords to easily present this option to their tenants.

Requesting Renters insurance from the app

Adding Tenants

When adding a new tenant we have created an option in the app to automatically email your tenants requesting they purchase renters insurance for the duration of their tenancy.

Requesting Renters Insurance outside of the App

Welcome Letter

Finally, we have created a free downloadable welcome letter for our landlords which they can easily customize and send out to their tenants via email or even hand out physical copies upon move-in.

Download our Free Welcome Letter

Future plans to streamline the process

Free lease creation templates in the app along with e-signing documents to digitise and streamline the entire process!

A little bit about Renters Insurance

Renters insurance usually covers your belongings, things that other people hold you accountable for, and temporary expenses if you can’t live in your rental. These fall under three types of coverage:

  • Personal property insurance covers your belongings (bikes, laptops, TVs, etc.) in the event of a covered loss.
  • Personal liability insurance covers damages you’re found liable for — like if someone gets hurt on your property or if you damage someone else’s property.
  • Loss of use coverage (sometimes referred to as additional living expenses) will help with temporary living expenses if your rental unit becomes uninhabitable. 

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