Welcome to the Goodcover Monthly Roundup for November 2023.
Our monthly news roundup is here to help you stay informed on the latest stories in insurance and housing that can impact you. You can view our previous monthly recaps here.
Let's jump into news that caught our attention in November:
RealPage Accused of Rent Manipulation:
The U.S. Justice Department has sided with tenants alleging illegal rent-fixing practices in their lawsuits against RealPage, a real-estate software company, and numerous property management companies. These lawsuits stem from concerns that RealPage’s revenue management software may have contributed to rising rents during the pandemic. While RealPage has sought the dismissal of these cases, the Justice Department opposes this, arguing that shared algorithms used by landlords could still constitute illegal price-fixing. While these allegations haven’t been tried yet, it’s a reminder for renters to advocate for fair pricing practices. Stay informed about this lawsuit, which could impact how rent prices are determined in the future, and potentially lead to compensation if you were impacted by these practices.
The Impact of Renting on Aging:
This month, new research revealed that renting can lead to faster biological aging, even more so than unemployment, obesity, or smoking. Every year spent renting was associated with an extra 2.4 weeks of aging to your life, on average. The insecurity of renting was listed as a key factor for the increased aging. Although the study was done for renters in the U.K., it’s easy to see how these factors might also transfer to U.S. renters. As we approach another election year, renters need to embrace policies that enhance housing security and stability for renters. It could help you live longer.
Up in Smoke:
CBS News reports that an Aurora, Colorado resident lost most of her possessions and all of her cash savings in a condo fire. Unfortunately, she didn’t have renters insurance, and she and her family are now facing potential homelessness – all because of this unforeseen incident.
Similarly, firefighters in Appleton, Wisconsin, are stressing the importance of renters'stressing the importance of renters insurance , are stressing the importance of renters'and smoke detectors after a storage shed and manufactured home caught on fire, causing $75,000 in damages. These unfortunate catastrophes serve as stark reminders to ensure you have the necessary protections in case something terrible happens. A renters insurance policy costs a small fraction of your potential damages, and you’ll have peace of mind knowing that if a fire ravages your home, you’re covered. If you live in Arizona, California, Nevada, or Texas, get a Goodcover Renters Insurance quote. We’ll get you an online quote quickly and even allow you to bind your policy online without needing to pick up the phone.
Final Thoughts
Thanks for reading. If you enjoyed this roundup, please check out more posts on our blog. Let us know what you'd like to learn more about in the next monthly recap. Follow us on Twitter and let us know.
See you next month.
-The Goodcover Team
Note: This post is for informational purposes; insurance regulation and coverage specifics vary by location and person. Check your policy for exact coverage information.
For additional questions, reach out to us – we’re happy to help.