First, talk to your renter and decide what to do. Agree on what they’re able to pay now, and when they plan on paying back the rest of the past due rent.
Next, make your plan official. Use a document of your choice to record the payment plan you and your renter agreed on. Looking for an example? Download our payment plan template
The amount of each payment is up to you, as long as the total amount to repay is the same as the missed rent, and all amounts owed are repaid before the end of the lease. If you discount or forgive part of the rent, Rental Protection coverage won’t apply to this amount.
Finally, set up payment plan installments through Zillow Rental Manager. For each individual payment, your tenant will make as part of the payment plan, request a payment through Zillow.
Rental Protection is lease insurance for landlords offered through Zillow Insurance Services, LLC (“ZIS”), a licensed insurance producer (AZ license no. 3001395092, CO license no. 721581, and NC license no. 3001614207). ZIS will refer landlords that express an interest in Rental Protection to LeaseLock Insurance Services, Inc. (“LeaseLock”), a licensed third party agent and surplus lines broker, to consider securing for their benefit such coverage, if available. Rental Protection is sold and administered by LeaseLock on behalf of one or more insurance companies. Requested Rental Protection coverage may not be available in the admitted market in your state. Such insurance companies may not be subject to your state’s insurance regulations and protections. Rental Protection may not be protected under your state’s guaranty act with respect to any right of recovery for the obligation of an insolvent insurer. Availability of Rental Protection may be subject to surplus lines exportability in your state.
ZIS may receive a fee or commission in connection with the sale of Rental Protection, but is not appointed to act on behalf of any insurance company. Rental Protection is not available in all states. If you would like information about other insurance coverage options, you should consult another insurance producer.
Zillow, Inc. provides the technology which powers the Zillow Rental Manager platform. Zillow Inc. does not receive compensation for the advertisement or sale of Rental Protection.