As a student landlord renting to students you understand there could be a downtime where students do not occupy the house during the summer months. One way to collect rents during this time is to have a 12 month lease, even still students may pay for these months but the house could sit empty from May until August while students are away on summer vacation. In the past traditional policies would deny coverage after house is vacant for just as little as 2 weeks.
We have recognized this unique exposure student landlords face and have added an enhanced coverage feature, the Seasonal Occupancy Clause to our policies. Subject to conditions and deductibles, the seasonal occupancy clause allows student rentals which go unoccupied over 30 days between May-August to benefit from the coverages of their policy. If you are searching for student rental house insurance in Ontario or are currently insured, ask your current advisors regarding vacancy and what your policy may or may not cover.
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*seasonal occupancy clause only available to properties that qualify