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Meet SpruceProtect: HOA Guarantee

Spruce News
Spruce
January 24, 2023
Today we’re introducing SpruceProtect: HOA Guarantee, the industry’s first and only HOA (homeowner’s association) rental coverage policy.

Real estate investors and professionals keep telling us about the frustration and friction with HOAs post-purchase. With nuanced complexities like inconsistent bylaws and contracts for every HOA, and amendments that are never filed, there can be hidden restrictions that are impossible to locate until after a property is listed for rent. This leaves investors facing non-recoverable expenses, including re-listing fees, closing costs, and loss of rental income.

With SpruceProtect, Spruce’s SFR clients can protect their investment with previously unavailable coverage in the event that their properties cannot be rented as a result of an HOA restriction.

SpruceProtect is the first and only offering of its kind, granting financial coverage for rental restrictions that may negatively impact the rentability of an investment property located within an HOA. It can offer investors a safety blanket: an opportunity to recoup losses up to $50,000 (for an additional endorsement fee per property) if their properties cannot be rented as a result of an HOA restriction.

Schedule a time with our team or email us to learn more: sales@spruce.co 

SpruceProtect: HOA Guarantee is offered as an endorsement to a title policy issued in partnership with American Digital Title Insurance Company.

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Article by
Spruce

Meet SpruceProtect: HOA Guarantee

Today we’re introducing SpruceProtect: HOA Guarantee, the industry’s first and only HOA (homeowner’s association) rental coverage policy.

Real estate investors and professionals keep telling us about the frustration and friction with HOAs post-purchase. With nuanced complexities like inconsistent bylaws and contracts for every HOA, and amendments that are never filed, there can be hidden restrictions that are impossible to locate until after a property is listed for rent. This leaves investors facing non-recoverable expenses, including re-listing fees, closing costs, and loss of rental income.

With SpruceProtect, Spruce’s SFR clients can protect their investment with previously unavailable coverage in the event that their properties cannot be rented as a result of an HOA restriction.

SpruceProtect is the first and only offering of its kind, granting financial coverage for rental restrictions that may negatively impact the rentability of an investment property located within an HOA. It can offer investors a safety blanket: an opportunity to recoup losses up to $50,000 (for an additional endorsement fee per property) if their properties cannot be rented as a result of an HOA restriction.

Schedule a time with our team or email us to learn more: sales@spruce.co 

SpruceProtect: HOA Guarantee is offered as an endorsement to a title policy issued in partnership with American Digital Title Insurance Company.