Loss of Employment Insurance Protects Your Renters—And Your Bottom Line

Renters falling behind on rent payments isn’t just a pandemic-era problem — it’s a persistent challenge driven largely by job loss, a rising concern in today’s volatile economic environment. Recent data from the Consumer Financial Protection Bureau shows that 14-23% of renters incurred late fees within a 12 month period, while the Federal Reserve reports 19% of renters fell behind on payments.

Among the most common reasons for these missed payments? Unexpected job loss as illustrated by the pandemic where 20% of Americans fell behind on rent payments due to financial hardship. The harsh reality? When Americans lose their jobs, unemployment insurance rarely covers rent in most cities.

“The economy is facing considerable turbulence… ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility” - Jamie Dimon, CEO of JP Morgan Chase

This financial vulnerability affects renters first, then creates a domino effect for property owners — missed rent payments and longer vacancies quickly add up to significant losses. That’s where Rhino + Jetty’s Loss of Employment Protection comes in — a proactive win-win solution designed to support renters during financial hardship while helping your properties mitigate the costly effects of unpaid rent.

The Real Cost of Unemployment

In today’s economic climate, property owners face a critical challenge in protecting net operating income (NOI) when market volatility puts renters’ employment at risk, as we witnessed during the pandemic years. A 2021 National Apartment Association (NAA) survey illustrates why today’s property owners should be concerned about the upcoming economic changes: collection losses during that period reached their highest levels since 2003. Delinquencies became a major issue, with operators reporting an average of 9% of units delinquent and rent debt per unit exceeding $5,000.

When economic instability leads to rising unemployment, these financial pressures have serious consequences on your portfolio:

Rising bad debt: Each unpaid rent cycle immediately impacts your cash flow. This creates cumulative cash shortfalls as delinquent accounts increase, affecting your ability to cover operating expenses.
Extended Vacancy Periods: The costs of turnover, including marketing, screening, and unit preparation typically equal 1-2 months of lost rent — with vacant apartments taking an average of 43 days to find occupants according to RentCafe.
Administrative Burden: Valuable staff time is diverted to collections, renter communication, and possible eviction proceedings.

What is Loss of Employment Protection

Rhino + Jetty’s Loss of Employment Protection is rent coverage designed specifically for renters who lose their job. This solution offers:

Up to 3 months of rent coverage
Starting at just $5/month
With an affordable coverage averaging $12-$15/month for 3 months of coverage

All renters with W2 income — hourly or salaried — can enroll at any point during their lease and get covered immediately. This program ensures renters remain secure in their homes while your properties maintain a consistent cash flow. Best of all, it requires zero cost or effort from your team. Rhino + Jetty handles everything from marketing to handling claims, eliminating additional workload for your management team.

Protect your Portfolio

Loss of Employment Protection helps you maintain financial resilience. It’s not only a win for your renters but it protects your bottom line too:

Zero cost to property owners: The program is completely renter-funded and fully managed by Rhino + Jetty.
Renter Retention: Fosters renter loyalty by helping to keep responsible renters in place while they get back on their feet and avoid the costs of finding new ones.
Reduces bad debt: Rent continues to be paid even if a renter loses their job, helping you maintain a steady income until they find a new job.
Stabilizes NOI: By reducing bad debt and income gaps, you can preserve the financial resilience of your property.

Protect Your NOI From Economic Uncertainty:

Learn More About Loss of Employment Protection Today.

Chloe Shechter

Chloe is a Senior Marketing Associate at Rhino.