Hey folks, I have lived in my current building a bit over 2 years. I'm wanting to sign a lease to move to a larger unit. In the new lease is a damage waiver clause along with additional $15/mo fee. It blocks the building from collecting damages from a tenant up to $100k, for damage done to the building.

It's clear they got an insurance policy covering such damage and are passing along costs to tenants.

However, I already have renters insurance and it covers 300k in damages plus my personal belongings. The Damage Waiver clause makes it clear that it does not cover tenant belongings and the management company recommends still having renters insurance. And my policy is <$15/mo. I don't want to cancel my policy.

I asked management if providing proof of my policy would be sufficient for them to remove the clause from the lease and the fee, they all but said no - I'm pushing for a clear answer in writing, but I'm pretty sure it will be that it's mandatory.

Everything else I see online makes it appear some buildings offer it as an alternative for tenant-purchased renters insurance.

This building is covered under RSO.

Is there any law disallowing this? I don't know if this was listed on the ad or not, but it was not included the monthly rent cost as discussed and as listed toward the beginning of the lease - it's just tagged on the end.