All rental units are automatically included in the community’s Property Damage Liability Waiver (PDLW) and therefore subject to an additional rent of $19.95 per month. Payment of this additional rent in accordance with the terms of your residential rental agreement waives your obligation to indemnify the property owner for accidental damages arising from fire, smoke, explosion, water discharge, or sewer backup caused by your negligent acts or omissions as further described in your rental agreement up to $100,000.00.
THIS WAIVER ONLY WAIVES YOUR LIABILITY TO THE PROPERTY OWNER AND DOES NOT WAIVE YOUR LIABILITY TO ANY THIRD PARTIES. THIS WAIVER ONLY APPLIES TO ACCIDENTAL DAMAGE CAUSED BY YOUR NEGLIGENT ACTS OR OMISSIONS AND DOES NOT APPLY TO DAMAGES CAUSED BY YOUR DELIBERATE OR INTENTIONAL ACTS OR OMISSIONS. THIS WAIVER ONLY APPLIES UP TO $100,000.00; ANY AMOUNT IN EXCESS OF $100,000.00 REMAINS SUBJECT TO THE TERMS OF THE RENTAL AGREEMENT.
In situations where the property owner’s covered damages are under $100,000, affected residents may receive up to $15,000 to replace personal belongings as determined by the Lessor and subject to the terms of any applicable owner insurance policy; provided that in no event shall the sum of the property owner’s covered damages and all amounts paid to affected residents exceed $100,000.00.
You may opt-out of the Property Damage Liability Waiver for your unit by (i) initialing as indicated below and (ii) providing proof of property damage liability insurance coverage, including a minimum of $100,000.00 of liability coverage per incident for the perils of fire, smoke, explosion, water discharge, and sewer backup and listing the property owner as an “Interested Party.” If you fail to provide proof of the required coverage prior to the commencement of your lease, your unit will be automatically included in the community’s Property Damage Liability Waiver and you will be charged an additional rent of $19.95 per month. If the required coverage should be cancelled or lapse for any reason, the Lessor reserves the right to place your unit in the community’s Property Damage Liability Waiver and charge you an additional rent of $19.95 per month.
NOTICE TO RESIDENTS: THE PROPERTY DAMAGE LIABILITY WAIVER ONLY WAIVES YOUR OBLIGATION TO INDEMNIFY THE OWNER FOR ACCIDENTAL DAMAGES CAUSED BY YOUR NEGLIGENT ACTS OR OMISSIONS AS DESCRIBED HEREIN. BY NOT OPTING OUT OF THE PROPERTY DAMAGE LIABILITY WAIVER, YOU ARE NOT ACCEPTING, ENROLLING, OR PURCHASING AN INSURANCE POLICY NOR ARE YOU BEING LISTED AS A NAMED INSURED UNDER ANY OWNER POLICY. THE PROPERTY DAMAGE LIABILITY WAIVER IS NOT A RESIDENT’S INSURANCE POLICY NOR IS IT INTENDED TO REPLACE A RESIDENT’S PERSONAL PROPERTY OR LIABILITY INSURANCE POLICY. ALL RESIDENTS SHOULD CONSULT AN INSURANCE PROFESSIONAL TO EVALUATE AND DETERMINE PERSONAL INSURANCE NEEDS. TO OPT OUT OF THE PROPERTY DAMAGE LIABILITY WAIVER YOU MUST PROVIDE PROOF OF REQUIRED INSURANCE.
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