Residential Deposit Insurance Program
In reality, coming up with a cash security deposit has become a major financial barrier for many lease tenants. Additionally, due to many conflicting state laws, the administration of these cash security deposits winds up both a legal and financial burden and a drag on the financial earnings of the residential property owner.
The easier it is for the lease tenant to defer or expense, on a month to month basis, any cash deposit and rent pre-payment requirement, the easier it will be for the prospective applicant to qualify and maintain financial solvency while a tenant at your property.
AssureLease™ is a totally new hybrid insurance product that not only addresses a market need to provide coverage for residential lessees in the event of loss due to resident damage, failure to pay contractual costs when due and, in some jurisdictions, cost of eviction proceedings. AssureLease™ has the distinct ability to create a potential profit center out of a traditional cost center. At the same time, AssureLease™ implements coverage in a much more attractive and affordable way for the tenant.
Key Benefits
Indemnifies the property owner’s risk with an insurance product with limits that are significantly higher than what would be collected in cash from the lessee.Policy of insurance has all the characteristics and benefits of a cash security deposit, only more so.
Protection provided by an AM Bests “A+” (Superior) rated insurance company, a proven leader in the insurance industry.
Eliminates the “upfront” costs associated with tenant move-in deposit.
Greatly reduces operational costs for the residential property management company.