Deposit Plus+ is a unique alternative to traditional security deposit insurance.
No more worries on tenant defaults
Tenant-Paid security deposit insurance provides 50% more coverage for renter defaults and damages. Get 6 weeks of rent default coverage with an option to get up to 3 months coverage.
Just one-time premium solution
Tenant pays one-time premium of 25% of the month’s rent that covers their duration of tenancy in the unit.
Provides property owners or managers with better protection than a traditional security deposit insurance.
Less administrative work-collecting, maintaining, and returning security deposits.
Opportunity for incremental revenue.
Powerful marketing proposition during challenging times.
More protection for property owners or managers who collect reduced security deposits.
Underwritten by an A-Rated Admitted Insurance carrier, backed by State Guaranty Funds. Non-admitted, surplus lines for those in New York, Washington, and Florida.
Insurance product, not a Surety Bond.
Example
Rent = $2,000
Deposit Plus+ Coverage
up to $3,000
6 Weeks Of Rent Default Coverage With An Option To Get Up To 3 Months Coverage
$500 Resident Negligent Damage
$300 Utility Default or Eviction Filing Fees
$300 Pet Damage
Property owner returns cash deposits to tenants by converting tenants to DepositPlus+
A property owner program to help tenants during these challenging times. You can convert existing tenants and return their security deposit.
One-time Tenant-paid premium
Upfront payment of 25% of one month’s rent by the tenant for the lifetime of that unit. No more monthly or yearly payments to worry about.
More Property-Owner Protection
50% more coverage for property owners or managers than traditional cash deposit. Get 6 weeks rent default coverage with an option to get as much as 3 months coverage with higher premiums.
Provides property-owner or managers with better protection than a traditional security deposit.
Less administrative work-collecting, maintaining, and returning security deposits.
Suggested admin fee to generate incremental income and cover for excess damages.
More protection for property owners or managers who collect reduced security deposits.
Underwritten by an A-Rated Admitted Insurance carrier, backed by State Guaranty Funds. Non-admitted, surplus lines for those in New York, Washington, and Florida.
Insurance product, not a Surety Bond.
6 Weeks Of Rent Default Coverage With An Option To Get Up To 3 Months Coverage
$500 Resident Negligent Damage + $300 Utility Default or Eviction Filing Fees + $300 Pet Damage
Tenant Criteria - must be employed, not behind on rental payments, and no damage to the rental unit
Tenants have the choice to accept a Return To Renter Insurance
Frequently Asked Questions
What is Deposit Plus+?
Deposit Plus+ is an alternative to traditional cash security deposits. Rather than a renter paying a full month’s rent, they pay 25% of one month’s rent one-time premium.
In return, the property owner/manager gets Deposit Plus+ insurance, which provides them with 50% greater coverage than a cash deposit. This can amount to 6 weeks of rent default coverage or as much as 3 months coverage for those who paid higher premiums.
What is an acceptable credit score for a renter to qualify for a policy?
The credit screening of each potential tenant is up to the property owner or manager. If tenants meet the property owner’s requirements, the tenant is automatically eligible for DP+.
What is the cost of Deposit Plus+ to the property owners or managers?
Deposit Plus+ is tenant paid, no cost to property owners or managers. The same can be said to Return to Renter.
Do the policies renew annually?
Renter pays upfront premium of 25% of one month’s rent at time of lease signing. Good for the life of the lease for the same unit. No yearly fees!
Can a property owner / manager make money?
With Deposit Plus+, propery owners or managers can charge an administration fee per unit per year, upon lease signing and renewal. Amount is up to the discretion of the property owner or manager.
Deposit Plus+ is a revenue generator for property owners / managers.
Are there any set-up costs to the property owner?
No cost to property owner or manager. Everything is paid for by the tenant.
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