Nicol Investment Company Unlocks Additional NOI and Compliance with Foxen

At a Glance

After a resident-caused, uninsured incident led to significant out-of-pocket costs, Nicol Investment Company, a Nashville-based investment firm, needed a way to guarantee renters insurance compliance across their entire portfolio.

“We were experiencing all of the pain points that Foxen solves. Compliance was number one, but it really came down to the revenue. With that NOI boost, Foxen was a no brainer.”- Kyle Burkett, Chief Operating Officer at Nicol Investment Company

The Challenge

Nicol needed to reduce the risk of unexpected out of-pocket costs, minimize administrative burden, and increase NOI.  

The Solution: Foxen Waiver

After extensive research, Foxen was selected as Nicol’s renters insurance compliance solution. With Foxen’s WaiverCore Damage Liability Waiver Program, the firm received:  

• A seamless quick-start rollout in under 3 months, including integrations with their PMS and four property management partners
• Total compliance coverage across 12 properties with over 3,000 units
• Over $20,000 in additional revenue in the first six months

Nicol's Winning Results

• $10k annual increase in NOI per property from Foxen's Waiver Programs
• 76% average Waiver absorption across the portfolio
• 0 uninsured renter incidents since 2022
• $275,000 in claims covered since 2022

Click here to download a PDF version of the Nicol Investment Company customer spotlight.

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