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Deposit Plus+ is a renter-paid security deposit alternative. Renters pay 25%* of one month’s rent- one time- for the life of the lease. Property owners receive 50% greater coverage against default and damages vs. a traditional cash deposit.

 

 

Example:

Rent is $1,500/month

Deposit Plus+ coverage is $2,250

 

Included with Deposit Plus+

$500 resident negligent damage

$300 towards utility default or eviction filing fees

$300 pet property damage

 

All within the limits of the policy.

 

*100% earned premium- Non-refundable.

 

Incremental Revenue with Deposit Plus+

Property owners may charge an Admin fee, at the property owner’s discretion, upon renewal per unit per year.

 

Benefits for Property Owners

  • Greater coverage than a traditional cash security deposit

  • No cost to property owners

  • Decreases admin time and money spent on maintaining security deposit accounts

  • Streamlined process and execution, i.e. sign-ups, claims and payments

  • Insurance company; not a surety bond- backed by States’ Guaranty Funds.

  • Powerful marketing tool in challenging markets

  • Lower security deposits attract a wider base of strong rental candidates- opens the door for qualified renters who have good jobs and can pay the rent, but may not have a lot of liquidity.

  • Simple move-out process- no haggling if the security deposit is returned or not.

 

Types of Communities That Use Deposit Plus+

Deposit Plus+ provides property owners with added protection for:

  • Apartment communities

  • Single family rental (SFR) homes

  • Student housing

  • Senior communities

Valuable and Sensible…that’s RentSensibility.

Call us today at 833-500-5959.