Student Housing
For as long as American Universities & Colleges have been in existence, it’s been customary to collect a cash security deposit from a resident student, prior to commencement of term, covering the eventuality that the student or one of his/her guests might damage the apartment/dormitory unit or vacate same prior to the end of term without final payment of lease terms. In reality, coming up with a cash security deposit has become a major financial barrier for many students and/or their parents. Additionally, due to many conflicting state laws, the administration of these cash security deposits winds up a financial burden to the college or university, instead of a potential financial benefit to the institution.
The easier it is for the student or their parents to defer or expense on a monthly basis a deposit requirement, the easier it will be for the prospective applicant to qualify and maintain financial solvency while attending your educational institution.
AssureLease™ Student Housing is a totally new hybrid insurance concept that not only addresses a market need to provide coverage for college/university student housing in the event of loss due to resident damage, failure to pay student housing or dormitory fees when due and, in some jurisdictions, cost of eviction proceedings. AssureLease™ Student Housing has the distinct ability to create a potential profit center out of a traditional academic cost center. At the same time, AssureLease™ Student Housing implements coverage in a much more attractive and affordable way for the student.