RESIDENT DEFAULT
Security Deposits Made Simple
Your security deposit administration doesn’t have to be a cost center, transform it into a profit center.
By offering a Resident Default replacement coverage through a captive, you can retain up to 50% of resident paid premiums year-over-year. If you’re looking for a way to improve your revenue and reduce your expenses, this is it.
Get rid of security deposits and get enhanced protection against resident defaults across your entire portfolio.
How it works
- Resident receives security deposits when current lease ends in exchange for a small rent increase (typically 1-3%, depending on the property’s past loss history for resident default and desired limits).
- Premiums are paid by resident and collected as part of the monthly rent.
- Captive-owned insurance covers resident-caused damage, loss of rents, cost of eviction and legal expenses.
- Eliminates headaches dealing with collection and management of security deposits.
- Improves occupancy rates by reducing financial barriers to rent.
