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.
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:
Single family rental (SFR) homes
Valuable and Sensible…that’s RentSensibility.
Call us today at 833-500-5959.