Renters Insurance Update
January 26, 2015
As part of the 2015 Basic Allowance for Housing (BAH) program, the Department of Defense has eliminated all funding for renters insurance. With this change in funding, Balfour Beatty Communities, as the property manager for your community, would like to inform you that the landlord (as identified in your lease agreement) is no longer required to and will need to discontinue the provision of renters insurance which has historically been included in housing leases.
Despite the announced change, Balfour Beatty Communities will continue to provide renters insurance to all current residents through the later of (i) December 31, 2015 and (ii) the end of your lease term. All new leases will no longer include the provision of renters insurance by landlord. You will receive a separate notice of change in lease terms outlining the revised terms that will eliminate the provision of renters insurance coverage. No other terms of the lease are impacted.
It is important that all residents thoroughly read the lease renewal notice if they intend to renew their lease and remain in the home. Lack of response or action by the resident with regard to the notice of change in lease terms will be considered an acceptance of the updated renters insurance terms under your lease agreement.
We appreciate your cooperation with this latest update to the BAH program and your lease agreement. If you have any questions, please reference the Frequently Asked Questions (FAQ) document below or call us at 915-564-0795.