Property Management Blog

Protect Your Investment Property

Bob Preston - Wednesday, June 12, 2019
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The following blog post is a time-stamped, full transcript of Bob Preston’s interview of Aaron DiCaprio of Rent Rescue. The episode was recorded May 16, 2019 and published on the Property Management Brainstorm Podcast. The audio version of this podcast can be found at this link on the North County Property Group website, as Episode 15- Protect Your Investment Property with Rental Income Insurance: Property Management Brainstorm Show.  

Bob Preston          01:10         Welcome, welcome, welcome to the Property Management Brainstorm Podcast. I'm Bob Preston, your host of the show, broadcasting from our studio at North County Property Group in Del Mar, California. I do my best on this podcast to bring our listeners great content from experts in the home rental market. So if you like what we have to say here today and you like our content, I would really appreciate it if you would pay it forward and leave us a positive review on iTunes or wherever you happen to be listening to the episode. I'm going to start this episode with a hypothetical question to our listeners. Have you ever wondered as a property investor and landlord what would happen if your tenant defaulted or abandon their lease? It's uncommon but it does happen, and every landlord bear some degree of risk and exposure in this area and it comes with the territory of owning rental properties for sure. But is there a way to protect your rental income if something should occur? And I'm hoping today we can answer that question because I have with me as a guest on the show by telephone from Philadelphia, Aaron DiCaprio, who is the CEO of a company called Rent Rescue, which provides rental income insurance to landlords to avoid the types of headaches I've just described. And thank you, Erin, for joining us today. 

Aaron DiCaprio:       02:23       Oh, thanks for having me, Bob. Appreciate it. 

Bob Preston:         02:25         Sure. Hey Aaron. So I was hoping we could get started. If you can just kind of tell us briefly about yourself, your background, and give us an introduction to rent rescue. 

Aaron DiCaprio:         02:34           Sure, sure. Yeah. So, uh, you know, I'm a sort of on again off again, you know, investor, I'm also an attorney, so please don't hold that against me. And then I’ve been in the insurance industry for a number of years working on underwriting various niche products and also creating them. Really getting back to the, uh, the investors side. That's something that's always been a passion of mine, always near and dear to my heart. And, um, you know, sort of, uh, was the impetus for, you know, creating, you know, Rent Rescue. You know I've been in situations, um, where, you know, I've been burned by tenants. Um, my wife and I, we had a property out in Denver, Colorado. Uh, this was back before the, uh, the market was really booming out there. And rather than take a loss on the property, we decided to use it as an investment property. We put it up for a, for rent. We hired a property manager, we moved to Philadelphia where my wife is from and probably about six or seven months into our being back east, I got a call from our property manager informing us that the tenant wasn't going to be paying us. Yeah. She basically said, uh, he lost his job. His girlfriend left him. He was no longer digging the Colorado weather, so he was moving someplace a warmer. So I kind of chuckled to say, well, Jeez, this sounds sort of like the lyrics to a slow country song and it's kind of at my expense. So, um, and in any event, this rental insurance of Rent Rescue really provides peace of mind to help, you know, those landlords address the issues of, uh, of tenant default and really, you know, reduce the headaches.

Bob Preston:        04:04        That's really great to understand that a bit. So you walk the talk to you because you're a property investor in a landlord yourself. So you understand some of these unthinkable scenarios. If I get the overall premise correct, it's coverage of your policy is to avoid kind of that unthinkable if you will, being out of pocket from an inability to collect rent on your investment property. Is that a fair way to look at it?

Aaron DiCaprio:          04:27        Yeah, absolutely. A lot of landlord, especially the smaller ones, they may immediately take that rental income each month and apply it to their mortgage or maybe it goes towards their child's daycare, paying tuition and maybe some other types of bills. So, you know, for a lot of them when there is a default, this type of insurance really helps them mitigate their, uh, their loss. So, yeah, I mean it covers, you know, skips, non pays evictions, uh, etc.

Bob Preston:         04:53         Okay. Yeah. I want to get into that a little deeper, like exactly what the scenarios are, you know, on a tenant. But you're absolutely right. I mean, we have a lot of people in our portfolio who are, I guess, the trustees for their elderly parent who may now be in some sort of care facility and they're now the trustee of the home that their parent owns. Or maybe they've inherited it. Right. But there's, I guess the need for income to help support their parent or perhaps that goes out more broadly to the family. So in those kinds of situations, my gosh, it would be terrible if a rent couldn't be paid, right. Because the, the parent may need it to basically support their lifestyle, you know, and they're in their later years.

Aaron DiCaprio:         05:34        Yeah, absolutely you hit the nail on the head there. I mean, the, oftentimes a lot of people are using these types of, well, they might become accidental landlords. You know, they're trying to, you know, make the best of the situation. So to have something like this insurance in place and really, uh, you know, protect them.

Bob Preston:           05:51         Absolutely. So you mentioned a few things, um, and I think the general term is tenant default, but what are the scenarios where someone you'd like, you've given us a couple examples of the, you know, country Western song where the guy lost his job, his girlfriend moved out, whatever. But I mean, what are some of the typical, you know, and it just in summary fashion, what are the top scenarios you see when a tenant has or might be at fault or default with paying their rent?

Aaron DiCaprio:           06:14          Sure. For example, when my wife and I had our rental property, the tenant, abandoned the property midterm and it was in the, in the middle of winter in Colorado. And a terrible timing on that one. Yeah. So we lucked out a little bit and having the new tenant is company moving him from California to Colorado. So we missed out on a couple of months around, but it certainly could have been worse because a lot of times when you're in those snow belt states, um, a court isn't going to kick the tenant out in the middle of winter, just not going to happen. Then we've also seen situations where, you know, somebody um, might be put on a, you might have been a member of the military who is inactive. Now all of a sudden I'm being put on active duty and deployed. So, our insurance policy will, will cover up to three months reimbursement in that situation it will also cover three months reimbursement when there's the death of a sole tenant or for example, in a court order, you know, breaking the lease. So, if there's a domestic violence situation, that's when the court would step in and, and, and uh, in the best interest of the tenants, they would order that the lease we broken. So we cover that as well. So it's not just the six months reimbursement for the skips, non pays and the evictions, but it's also the three months reimbursement for what I just described. And then in addition, we also pay up to a thousand dollars of legal expenses should you have to go through the eviction process. And uh, I'm sure we all know how much of a of a headache that could be.

Bob Preston:          07:31         Sure. Absolutely. So the eviction part of it was what I was going to ask too. So I'm just curious, hadn’t planned on asking this till I heard your description, but if you have a tenant who abandons or goes into default, stops paying rent and needs to be evicted, does it prevent the landlord if they submit a claim for your insurance? Is there any kind of further legal action the landlord can still take? In other words, I mean legally the person signed the lease so they're obligated to pay the rent. Right, so does it does if they collect insurance from you, have you seen those kinds of scenarios where maybe it doesn't fully cover everything or the landlord is still pursuing the former tenant in some way to kind of come clean on there, you know, on what they owe?

Aaron DiCaprio:         08:17          Once the insurance is purchased, the insurance company sort of steps into the shoes of the landlord and then they can now pursue, the lost rental income from the tenant. That lost I got. Then if for some reason they were successful in recovering it, then they could share a portion of that with the landlord. It really depends on, on how much has already been paid out to the landlord already.

Bob Preston            08:39           Got It. Okay. So that, that totally makes sense. And how is it premium determined, Aaron? Is it kind of one size fits all? Do you base it on the size of the property, the amount of rent that's being paid? How does that work?

Aaron DiCaprio:          08:51         Yeah, so the premium is a, is generated by the monthly rental income. Our rental income ranges are from $450 on the low end, up to $5,000 on the high end. Okay. The minimum premium per unit is $252 roughly. And the average premium per unit is around $300. That doesn't include taxes and fees, but that's the, a, the premium that we're seeing on the average. And usually it can be taken as a tax deduction or what the landlord might elect to do is pass the cost off to the tenant in their, uh, their monthly rent, which when they do that, it's probably two to two and a half percent increase in that monthly rent. So not a substantial increases pretty nominal.

Bob Preston:           09:34         Yeah. That totally makes sense. And I understand the application is all online and, and pretty straight forward. So you basically would go to your website and you'd fill out the application online. And what are the criteria? Are you looking at, from what I understand, the landlord would fill out the application or the maybe the property management company, is that correct?

Aaron DiCaprio:         09:51          Yeah, correct. It's either the landlord or the property manager that this whole process is supposed to be very user friendly, intuitive, quick and easy. The last thing I want to do is to create more headaches for people who are already experiencing headaches, right? I mean they're, they're already dealing with a tenant who's defaulting and that lost rental income. So the whole process was developed to be very seamless. So basically, a landlord, once they're interested in purchasing the insurance, they go onto our website, they click one of the, uh, the red apply now buttons, and they can get started. And really, they, uh, they just need to answer a few questions about the investment property for example, a location and what the monthly rental is. And then, um, there's some tenant selection criteria questions. So basically the landlord just has to warrant that the tenant has a 600 or better credit score, no bankruptcy's over the last five years, no evictions over the last five years that the tenant can also satisfy the, uh, financial terms of the lease and that the rent has not been in a rears for 30 plus consecutive days during the last 12 months. So, if all that passes muster, then they can proceed to the checkout and a pay with a credit card and have their insurance policy emailed to them in a few minutes.

Bob Preston:         11:01          That's great. And it's, so the response then is almost instant, right, in terms of getting the policy back? Yeah, absolutely. Okay. That's good. Yeah. So that criteria seems extremely reasonable in terms of the tenant, I mean we screen, you know, North County Property Group, we screened our tenants diligently, you know, we try to avoid these kinds of problems, but I mean, it could happen. So I think it's nice to have that back in him. And in some ways it's almost like you're insuring, I know you're sharing the landlord, but it's almost like you're actually offering protection for the tenant in some ways. You know what I'm saying? If that makes sense.

Aaron DiCaprio:        11:33         Sure. Yeah. I mean, you know, you know, it's, uh, it's interesting, you know, life happens and you can have the so called perfect tenant and for whatever reason, maybe they lost their job or they fall on, uh, you know, some, uh, medical issues and it's just one of those, you know, unfortunate situations. You could, you could run the background checks, do the screening, and you think you have the perfect one. But again, like I said, you know, life happens and it's good to have this type of insurance when one of those unforeseen circumstances occurs.

Bob Preston:         12:01         Yup. And you brought up the military reassignment example we have in San Diego, we have a lot of military tenants and I mean, typically they're excellent tenants. We know they're going to get paid, right? Except if the, there's a government shutdown or something. But I mean, we know they're going to get paid. They're usually very regimented and very, you know, great about paying rent on time and taking care of the property. But it's a federal requirement that you allow them to leave if they get reassigned to another post that's in a different location. And so if they've been provided with those orders, we have to let them out. Right. It's just they're great people. But I mean it just is what it is. Is there an underwriter involved in the insurance? Is it just you guys or is there someone is another insurance backing of some sort? Maybe can explain how the relationships there.

Aaron DiCaprio:         12:48         Yeah, absolutely. So, I have some business partners, ironically out in San Diego where you are, where you're located called Next Wave Insurance Services. And a, there are what's called a, a, an insurance, a managing general underwriter or um, I guess in Layman's terms, you know, an insurance agency or brokerage and um, you know, they, they provide a lot of the, uh, the critical infrastructure and support to Rent Rescue. So Rent Rescue is, is, is one of their other verticals. And, uh, you know, Next Wave has been around in the insurance industry creating your niche insurance products since 2004. I mean, they have offices in San Diego or Rancho Cordova here in Philadelphia. And then also, you know, north of the border up in Toronto, Canada and uh, you know, Next Wave it was started by an industry veteran, Jeff Ward. You know, he's had a really great run creating, you know, niche insurance program for consumers. And a lot of these programs are a digital program where you could purchase the insurance and a matter of minutes online if they have a great product called Registration Saver. That's also like Rent Rescue, a reimbursement insurance policy. When athletes can't make a camp or an event like a triathlon or a 5K or maybe it's, you know, a sports league due to some unforeseen circumstances like traffic or an injury or, or a, or something that's weather related, that insurance will reimburse those athletes a portion of their registration fee. So similar concepts. So it just made perfect sense to partner with those guys. Uh, they've been great. They know the industry very well. They know the technology. We've, myself, Next Wave, we've partnered with an insurance company called HDI Global Specialty, which is out of an out of Germany and they’re probably one of the largest insurance groups in the world. In fact, over the summer they acquired a reinsurance company called Hanover Re, which was the fourth largest reinsurer in the world. You know, they've been a great, a great partner. So HDI Global, they're the ones who are going to be paying the claims when there is a, that unfortunate circumstance, they're very well regarded. They're rated A by AM Best and a plus by Standard and Report. So they have that credibility that everybody requires as well.

Bob Preston:         14:51          That's really good. So you've got some outstanding back in and some great partners as good to hear. And then if a landlord does believe he has an issue, okay, I don't get my rent check this month. I'm trying to contact the tenant, not hearing back from him. It's now 15 days into the process. I've served him with a three day notice. That's what we call it in California, three-day notice to pay or quit, don't get any response to that. Are there steps that a landlord has to take before he can submit a claim? I guess what's that process in between identifying that there's a problem and then submitting a claim to rent rescue?

Aaron DiCaprio:          15:28           Sure. No, that's a great question. Um, and as I mentioned before, the whole purpose of the platform was to provide that peace of mind and make this whole process very seamless and easy with no headaches. So, you know, really what you've described, um, is what we're looking for sort of normal steps that one would take to try and collect the other rent. And then once you realize, hey, you know what, we're not going to be getting paid, then you could go ahead and start the claim process.

Bob Preston:         15:52          So then at that point, does it sort of get turned over to the insurance company? Did they take over and say, hey, we're, we're now involved and we're representing, you know, Bob Preston or remember the landlord happens to be and given them the power or the authority to pursue this matter. Is that kind of more or less?

Aaron DiCaprio:        16:07        Absolutely yeah. Yeah. Once a claim was initiated, then the insurance company steps in and they actually use, um, it's called a third-party administrator to a to manage the claims, which basically makes this whole process even more nimble to have experts in certain niches handling claims. So, they'll turn it over to the, uh, the third party administrators, adjusters, and they'll be immediately reaching out to, to the landlords, asking them for some information and then really accelerating the claim process to get these landlords paid in a timely manner.

Bob Preston:         16:37         That's super interesting. I know you're not a collections agency and I don't want to compare you to that, but the processes, in some ways are kind of similar, right? Because if we can't collect from a renter after a certain period of time, and one of the options we have is sending that renter, that tenant to collections and then hopefully someday down the road, you know, the collections agency, we'll, we'll negotiate something. But oftentimes that never really happens, right? It's just a ding on the tenant's credit record, but there's really no end transaction. Your case, we turn it over. So you guys, you guys kind of take it from there, but in the meantime, the landlord is getting some rent compensation. It seems like a really good concept to me.

Aaron DiCaprio:       17:15       Correct. The claims process is also supposed to be, you know, very, very seamless, quick and easy.

Bob Preston:       17:19      Ah, that was my next question. Perfect. Perfect. Yeah, take it. So it's online too, right? The claims process.

Aaron DiCaprio:       17:25        Yeah, everything's online. So when there is a claim, a landlord could go onto our website and in the navigation bar and says, make a claim and just click on that verbiage and then that opens up a separate window and all the information that the adjusters will need. It's not a, you know, volumes of information. It's just information on, you know, the rental property location, uh, mostly, uh, the rental income that's being lost and just, you know, overall what's going on, what type of a default it is. Go onto that page. You can enter in some data in the fields provided and then you could also upload documentation, whether it's the uh, the three day notice that you described or any other types of notifications, maybe a copy of the lease. So everything could be done online. Again, we're trying to alleviate the headaches here, so we want to make sure that the whole claim process is seamless too. And, and that's how we built the platform before the insurance company will pay. There is a deductible that applies to this insurance policy and that's equal to one month's rent. And then once that's satisfied and the information that's provided to the adjusters is sufficient then payment is usually within a, within 30 days and pretty quick.

Bob Preston:       18:32       Okay, terrific. And is there kind of a waiting time, but I mean I think there's always win. I mean if I look at my home insurance or whatever form of insurance, there's this, I submit a claim, you know, there's this sort of nervousness that occurs like, am I going to be covered? You know, are they going to cover this? Is there a wait time to understand like, yes, this is going to be honored and going to be covered and I'm going to be reimbursed for the default?

Aaron DiCaprio:        18:52         Not so much a waiting time, time her. Then there's the, uh, the deductible, the reimbursement that occurs isn't going to be a lump sum reimbursement. So as I mentioned before, there's either a six month reimbursement or three month reimbursement, you know, sometimes the, the landlord might be able to find a tenant after two months, so the insurance company isn't going to pay them, you know, six months reimbursement and have them catch a windfall. I'm not, with that said, it's still a very easy process. So each month, once we've established that the default was due to something that the tenant has or has not done, it's not the defaulted and occur by something that the landlord did, like keeping the unit uninhabitable. But it's really the tenants issue. Once that occurs, the adjusters will ask some questions and then they'll start the payment process and then each month we'll reimburse the, uh, the landlord. And all we ask is that the landlord provide us with some information on what they're doing to release the unit and or evict the tenant. So it could be something as simple as forwarding on to the adjuster an email from the eviction attorney stating that the uh, the hearing is June 1st and once we receive that, great thanks for the information and we'll get the uh, the payment out to them. So it's again, it's, it's a real easy process.

Bob Preston:         20:04         Okay, well that's awesome. And then I guess who can purchase a policy? So you earlier use the term accidental landlord, you know, somebody who's maybe inherited or is taking over as a trustee. We have a lot of listeners who may have as few as one rental property and they're actively looking to learn about new services or aspects available to them. And then we have people who are investors who have multi-tenant dwellings and very large, you know, a very large portfolio. So who would be ideal, who could purchase the policies and who are you targeting?

Aaron DiCaprio:         20:35         Sure. So, it's really any landlord with small or large portfolios that have long-term rentals. The program isn't for the short term rentals, like the seasonal or vacation properties, the other long term rentals, we found that really the landlords with this smaller portfolios, either the accidental landlords are the ones who just have a, you know, a small handful of units, maybe one or two or, or less than five. They're the ones who really feel the pain when there's a default. And as I mentioned before, they might be taking that rental income and immediately applying it to their, to their mortgage or maybe two, um, you know, daycare or to pay other bills, etc. So they're the ones who I think really benefit from this, especially if they're first starting out and if they are first starting out, you know, there is some reluctance sometimes for these investors to dip their toes into, um, to, uh, the residential investor space. So this insurance actually gives them some added protection and some assurance that, hey, you know, what you could, you could plan for your future with, with this investment property and there's insurance there to, to help you, you know, sort of give them the nudge to do it. It's you're mitigating that risk so you know really single families, town homes, duplexes, multifamily, and they all fit our program. The landlords that have the larger portfolios, sometimes they could insulate themselves by self-insuring the rent default exposure that with that said they still like the insurance because by purchasing it they're limiting their bad debt expense off the balance sheet and they can get more favorable terms from banks. They could do more with their money, their cash is freed up so they also like the rent, the fault insurance. However, when we deal with them it's more of a sophisticated sales so that probably wouldn't be done online. That would be then getting in touch with me and then my sitting down with them to determine the correct rates. Given that we're dealing with a larger portfolio in economies of scale. 

Bob Preston:        22:27       What about property management company? So, if you've got someone like North County Property Group who purchase, you, which I plan to do here by the way, and we have hundreds of properties under management, how would that work? Do you issue policies to people like us or does it need to be directly with the, the homeowner? How, how does that work? 

Aaron DiCaprio:          22:40         It’s either, we could an issue it directly to the homeowner or we recently deployed our master a rent default insurance policy that property managers can purchase in their own name that will benefit their, uh, their landlord clients. So it's really, uh, a good way for a property manager to differentiate themselves from the property manager down the street.

Aaron DiCaprio:         22:59          By purchasing the insurance that you could say you could add ABC management firm as the named insured on the policy and then for the benefit of their landlord clients. So it's something that's really unique to the property manager that they can tout as being their own. And again, it differentiates themselves from other property managers and it's all still provides that value added service that can really become part of a more of a, a premiere suite of management services being offered by the property manager. So it really helped the business model and I get it including that and in a, in a sort of a top tiering level of a management services and again it goes back to that differentiation. Everyone's looking for something unique to market and attract clients. 

Bob Preston:         23:41        Yeah, no, it's a great talking point for people like us to say because we do, we have two programs, have a standard program of property management, that's one fee and then we have a premium which add certain levels of protection and this could certainly be one of those and it's a great talking point for pitching why the owners should upgrade and go with the premium versus the standard program because you get this additional value add in this additional level of protection. No question about it. From your perspective, and this is getting into dealing with property managers a little deeper, do we, people like us and property managers bring anything to the table for you that I guess you find attractive as one of your vertical markets? So you know there's sort of, I'm sure you have your own vertical markets to it. Just as you described yourself being a vertical market for, you know, the insurance underwriter, how about us? Are we a vertical market for you and what advantages do we bring to the table for working with people like us?

Aaron DiCaprio:       24:36       Oh absolutely. As I mentioned before, my wife and I, we had a property out in Denver and we also had one down in Virginia as well. And we had property managers helping us on both of our investments. I mean it just makes sense. I mean, property managers have the experience. I mean they've been there, they've seen, you know, what transpires and how to quickly address the issue. If you have, I wouldn't say unsophisticated, but let's say a new investor, they might not know all the subtle nuances with landlord tenant law and how to, how to negotiate with the tenants and just allow the lot of the other issues that may arise. So really finding a property manager that has, you know, the experience and the expertise is crucial. And especially in mine and my wife's instance where we were in Philadelphia and we had properties in other parts of the country. Well, we obviously couldn't be in those locations, you know, 24/7 so I'd really have someone that's reliable to manage your investment is definitely, you know, paramount. Quite frankly, even if we had properties that were local to us, we would still hire a property manager. I think being able to have that expertise available 24/7 is important for us, especially when you have a busy life and you have other commitments. I mean we have three boys, you know, seven, six and three and you know, to be able to provide our tenants with what they need at a moment's notice, it's going to be tough. So really having, you know, somebody else to help us out and kind of watching our back is what we really look for. So to answer your question, yes, absolutely. I think finding the right property manager is key.

Bob Preston:       26:01        Well, we do things here at North County Property Group by the book. We know all the laws in California. A lot of the owners who end up coming to us have tried it themselves and been burned. I find that sometimes they do it yourself landlord is perhaps too lenient on things like rent collection or we don't screw around. You know if somebody is late on their rent, boom they get a three day notice and there's that documentation you were asking for. So, I'm, I'm assuming that you like working with property managers in terms of Rent Rescue too because we know what we're doing and we can easily provide that documentation to kind of get it to the next stage.

Aaron DiCaprio:         26:34          Absolutely. It makes the whole process, the Rent Rescue platform, the claims process, the underwriting, it just makes everything more seamless and it, I mean we're providing value add to the landlords and in turn so was you know the property managers as well. So I'm going to, it really works out quite well.

Bob Preston:        26:51       Hey, so we're starting to run out of time here. I tried to keep my episodes at around 30 minutes and we're approaching that a benchmark of time. I did want to ask you about one other thing though, and I've done some studying on your company. It was on your website and I think it was in the frequently asked question section. I noticed that you commit percentage of your proceeds to charity organizations. And I want to ask about that. I thought that was pretty cool. How did that come about? What drove that interest in kind of being philanthropic from a company perspective?

Aaron DiCaprio:       27:21        In short, it just feels great to pay it forward and really help those in need. And you know there's a lot of great causes out there and helping people and you know, I'm pretty, you know, philanthropic myself and the two charities that we pay it forward to is uh, both Autism Speaks and the uh, the National MS Society. So, the first one, Autism Speaks my seven year old who was recently diagnosed with autism. So that really hits home for us. And then with respect to the National MS Society, I have one of my best friends from, uh, from high school. He was diagnosed in his, uh, in his thirties. I mean, he woke up one morning and he couldn't see and that was sort of the wake up call that hey, you know, there's something going on here so that everybody has their battles that they're fighting. And to be able to help them a little bit and make their day a little bit easier, it goes a long way and it makes you feel good.

Bob Preston:        28:08         I love that. And I think it's, you know, really noble causes for your organization to participate in. I too have had family member with, yeah, MS. It's a very sad disease watching someone basically, you know, suffering from it. My brother was diagnosed when he was in his 30 same thing. He woke up one morning and he had blurry vision and then, you know, the next day he was diagnosed with MS and recently just passed away, you know, because he, you know, progressed to that state. And so hats off to you. I think that's fantastic. And I want to dive into it just briefly because we've recently, this year also made a commitment to kind of corporate responsibility and we wanted to choose a philanthropy and choosing the right charity. And I know we're getting off topic here a little bit, but I think it's really important to talk about is super challenging, right? Because we wanted something, we want to get back to our community first of all and we wanted to make it local to San Diego and that wasn't necessarily easy, and we wanted to give back in some way to the housing market. And we landed with um, Habitat for Humanity of San Diego and we just are really thrilled to be a part of that. So we commit a certain percentage of every property we signed to cash donations and also to time actually on site helping build homes for people. So the team gets their tee shirts on and we go like go out and we spend a team day helping build homes for people. So it's pretty cool. I've really enjoyed the conversation today. Good stuff. You have an exciting company, a great product offering. If people wanted to learn more about you about Rent Rescue, how would they do that? And I guess, do you have any other parting thoughts beyond that?

Aaron DiCaprio:      29:42       Again, as I mentioned earlier in a few times throughout our conversation, you know, there's insurance, you know, is really provides that peace of mind. So I mean, you know, owning an investment property, you know, is a great way to plan for your future. It shouldn't be a headache and a, that's what we're all about. Alleviating the headaches, providing that peace of mind and that additional security for your investment. So, if anyone wants to learn more about Rent Rescue, they could simply go to our website, which is or they get a, they can feel free to email me personally. My email addresses Aaron, that's and I'm always happy to, uh, answer your questions and help where I can.

Bob Preston:       30:21       And if any of our listeners want to know how to get in touch with Aaron, I can help with that too. You can reach out to us and we'll forward it over to Aaron. I can say from experience and working with Aaron here over the last a week or so to get this scheduled, super responsive. So I think if you were to email him, you'll find he gets back to people pretty quick. Well thank you so much for joining the show today. Very much appreciate it, Aaron. That was a great episode and that concludes today's show. And I would like to make another quick plug. If you like what you heard today, help us get other guests like Aaron who can pass on other knowledge, give us a positive review on iTunes, wherever, Spotify, wherever you might be listening. And we really thank you for joining the Property Management Brainstorm. And that concludes our episode until our next episode, North County Property Group will be out in the field working hard for our clients to maximize their property value and rental income and to maintain top notch tenant relationships. And we will see you next time. Thanks for joining.

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