Move In Residents. Move Out Risk.
Alternatives to cash deposits are increasingly becoming part of the property management landscape. Even before the COVID-19 pandemic, traditional security deposits were often a financial burden for residents that deterred them from signing a lease. But, for property managers, offering a deposit alternative that lowers resident move-in costs hasn’t always been hassle-free.
Thankfully, not all security deposit alternatives are created equal. At Assurant, we created a surety bond deposit alternative that helps you lower move-in costs for residents while guaranteeing that you’ll receive payment up to the full bond amount. And it’s the only deposit alternative with integrated collections to help you recoup any outstanding resident debt. Whether you’re responding to new state and municipal requirements to offer cash deposit alternatives or you’re focused on making your properties more competitive, we can help.