Resident Benefits Package Lease Addendum
The LIGHTHOUSE REAL ESTATE SERVICES INC Resident Benefits Package (RBP) delivers savings and convenient, professional services that make taking care of your home second nature at a cost of $45.95/month, payable with rent.
Tenant and Landlord mutually agree that the Resident Benefits Package is defined as follows and variations of inclusions may exist due to property specifications. The total monthly cost of the Resident Benefits Package is all-inclusive, and no discounts will be given if any element(s) of the package are unavailable due to a lack of HVAC or other property-specific limitations, unless otherwise specified below.
Move-in Concierge Service: Tenant acknowledges that Landlord will make available a concierge service toTenant to aid in utility, cable, internet, and other relevant service(s) activation. Tenant maintains the right to facilitate his/her own service activations. Tenant agrees to abide by all HOA and other lease restrictions and guidelines applicable to utilities.
Resident Rewards: Tenant acknowledges that a Tenant rewards program is made available to them by Landlord.Rewards are to be accessed online and are activated at Tenant’s sole discretion through use of a mobile application provided by the rewards provider. Rewards will provide Tenant with available rewards as a preferred customer ofLandlord.
Credit Building: Landlord provides credit reporting to cast positive payment history through a third-party service.Landlords are not responsible for any misrepresentation, erroneous reporting, and/or lack of reporting by the third-party service. Tenant understands that any disputes will be handled directly between Tenant and the third-party service.
Renters Insurance Requirements & Program: The Landlord requires Tenant to obtain liability coverage of at least $100,000 in property damage and legal liability from an A-rated carrier and to maintain such coverage throughout the entire term of the lease agreement. Tenant is required to furnish Landlord evidence of the required insurance prior to occupancy, at the time of each lease renewal period, and upon request.
To satisfy the insurance requirement, Tenant may either (1) be automatically enrolled into a policy that satisfies the coverage requirements as part of the Resident Benefits Package; or (2) obtain alternative liability coverage
from an insurer of Tenant’s choice. The option Tenant chooses will not affect whether Tenant’s lease application is approved or the terms of Tenant’s Lease.
Option 1: Do nothing. Tenant will be automatically enrolled into an insurance policy as part of the ResidentBenefits Package. No further action is required. Coverage will begin on the effective date of Tenant’s lease and continue throughout the lease term. Please refer to the evidence of insurance that is supplied by LIGHTHOUSE REAL ESTATE SERVICES INC for additional coverage details. The Resident Benefits Package monthly rate will be adjusted by the premium amount in the policy.
Option 2: Buy a policy. If Tenant prefers, Tenant may find, purchase, and maintain another policy that satisfies theLandlord’s requirements. The Resident Benefits Package monthly amount will be adjusted accordingly. Visithttps://insurance.residentforms.com/ and follow the instructions listed there to provide evidence of the required insurance coverage to your Landlord.
Your insurance carrier must meet the following criteria prior to submitting one independent of our program:
● Policy is purchased from an A-rated carrier
● Policy meets or exceeds the required $100,000 in property damage and legal liability
● LIGHTHOUSE REAL ESTATE SERVICES INC is listed as additional interest
● LIGHTHOUSE REAL ESTATE SERVICES INC address is listed as: PO Box 660121 Dallas,TX 75266
It is Tenant’s responsibility to pay premiums directly to your insurance provider. If the policy is terminated or lapses,Tenant will be subject to a lease violation fee of $25 and agrees to be subsequently enrolled into the policy referenced in Option 1 above.
Home Buying Assistance: Landlord is a Licensed Real Estate Agent and/or Broker and offers buyer representation services and referrals to Tenants enrolled in the Resident Benefits Package for the purchase of real property. Most buyer agent services are paid for by the sellers agent, so free to you!
24-Hour Maintenance Coordination Service: Landlord shall allow access to Tenant to report maintenance concerns outside of normal business hours via the online Tenant portal, or other such means as made available byLandlord.
Online Portal Access: Landlord agrees to provide Tenant online portal access for the purposes of reviewing pertinent documents, payment of Rent and other fee(s), and reporting maintenance concerns. Landlord reserves the right to restrict payment access to Tenant, at Landlord’s sole discretion, should a pattern of delinquency arise and/or persist.
Multiple Payment Methods: All rental payments can be paid in a variety of ways using Tenant’s portal. Available options include ACH, debit and credit cards, along with participating retailers (as applicable). Restrictions of payment methods by the Landlord are permissible should a pattern of delinquency arise and/or persist. Any applicable fees are at the Tenant’s expense. Payments set up with routing number and account number have a convenience fee of $2.95.
HVAC Filter Delivery: A portion of Tenant’s total amount due will be used to have HVAC filters delivered to their home approximately every 90 days, or as required by your HVAC system. Tenants shall properly install the filter that is provided within two (2) days of receipt. Tenant hereby acknowledges that the filters will be dated and subject to inspection by the Landlord upon reasonable notice to verify replacement has been timely made. If at any time Tenant is unable to properly or timely install a filter, Tenant shall immediately notify the Landlord in writing. Tenant’s failure to properly and timely replace the filters is a material breach of this agreement andLandlord shall be entitled to exercise all rights and remedies it has against Tenant and Tenant shall be liable toLandlord for all damages to the property or HVAC system caused by Tenant’s neglect or misuse. Landlord may charge a trip fee to perform the filter change, as required, at Tenant expense. Tenant acknowledges that if the property does not have an HVAC system, there will be no filter(s) provided and there is no discount to the overallTenant cost of the package.Vetted Vendors: Landlord will ensure all third-party vendors are appropriately licensed, bonded, and insured.