What If We Decide to Build Rentals Instead?

With new residential sales slowing down, a number of builders have asked this question recently. There are very specific strategies that we can put together for you that will enable you to retain the flexibility of keeping your project part for sale, part for rent, entirely for sale, or entirely for rent. Whatever the direction your project goes, we can create an insurance program that will give you your maximum flexibility in a changing market.

We try to discover your short and long term goals, for example do you only plan on renting the units until the market picks up? If so, you'll need the policy written to provide tail coverage for construction defects when the individual units are sold. Likewise, if you decide to keep the project as income-producing apartments, you may decide to sell the whole complex down the road. You'll want to have coverage for construction defects in that scenario, too, since the ten year post construction tail still applies.

Whatever your direction, Owen-Dunn will help you put together an insurance plan that fits your goals.

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