Greater Protections Against Defaults + Damages.
Security Deposit Insurance
RentSense Deposit Plus+ replaces traditional security deposits, providing greater protection for property owners while giving properties an easy way to increase revenue.
50% More Protection
Rather than four weeks of protection with a traditional cash deposit, Deposit Plus+ provides 50% more protection against defaults and damages.
Benefits for Property Owners
RentSense Deposit Plus+ provides property owners with greater protection against defaults and liability, saves time and money on administration costs, and provides an incremental revenue stream.
- Zero cost to property owners
- Underwriter is an A Rated insurance carrier, backed by States Guaranty Associations.
- Decreases admin time and money spent on maintaining security deposit accounts
- Streamlined process and execution, i.e. sign-ups, claims and payments
- Insurance company; not a bond- which potentially can run out of funds
- Powerful marketing tool in challenging markets- a lower security deposit attracts a wider base of strong rental candidates.
- No deductible
- Valuable and Sensible. That’s RentSensibility.
Deposit Plus+ Increases the Field of Qualified Renters
- For most renters, first and last month’s rent, plus a security deposit, can make for a hefty move-in cost. Deposit Plus+ widens the field of qualified rental candidates by reducing the amount of the move-in cost.
- Lower cost-burden- one-time upfront payment of 25% of one month’s rent- non-refundable- for the duration of the lease. Opens the door for qualified renters who don’t have a lot of liquidity.
- Simple move-out process- no haggling if the security deposit is returned not.
How It Works
Step 1. Fill out the enrollment application to establish Deposit Plus+ as the alternative to a security deposit at your property.
Step 2. RentSense will review your property information and, once approved, we’ll provide a final agreement and add your property to our software. You can access it at any time.
Step 3. Both new and current tenants can sign up and take advantage of Deposit Plus+. A processing fee, determined at the discretion of the property owner is paid to you directly.
Step 4. The tenant pays 25% of one month’s rent to RentSense, securing coverage for the length of the lease.
Step 5. Once a tenant is enrolled and has paid their 25% of one month’s rent, the property owner is notified and your protection begins. If there’s a default or damages at the end of the tenancy, you’ll receive six weeks of protection, including negligent damage, utility default or eviction filing fees and pet property damage.
What Types of Communities Use Deposit Plus+?
Deposit Plus+ provides property owners with added protection for:
- Apartment communities
- Single family rental (SFR) homes
- Student housing
- Senior communities
- Vacation rentals
Contact us to start protecting your property today.
RentSense Deposit Plus+ – Valuable and Sensible. That’s RentSensibility!
Speak with a RentSense Deposit Plus+ Specialist
Provide your contact information and a RentSense representative will walk you through how Deposit Plus+ can benefit your property.
Download DepositPlus+ Overview
See how Deposit Plus+ protects your property, decreases your workload, and increases your revenue.