Rentsense - deposit plus

  Greater Protection + Incremental Revenue Stream

RentSense Deposit Plus+

RentSense Deposit Plus+ provides greater protection and an incremental revenue stream for property owners.

Deposit Plus+ is a security deposit insurance alternative. Rather than collecting a traditional security deposit, which provides four weeks of protection in case of default or damages, Deposit Plus+ provides six weeks of protection via an innovative insurance product.

Example:  Company with 2,000 homes or apartments.

  • Based on $1,500 rent
  • Standard $1,500 security deposit

$3,000,000

  • With RentSense Deposit Plus+

$4,500,000 in value

  • RentSense Deposit Plus+ delivers

$1,500,000 in additional coverage

The tenant pays 25% of one month’s rent, which is equivalent to the Deposit Plus+ annual premium. In turn, the property owner receives six weeks of protection and coverage. That’s 50% more value than a traditional security deposit!

Included in that coverage is $500 towards negligent residence damage, $300 towards utility default (if the property owner is responsible) or eviction filing fees, and $300 towards pet property damage- all included within the Deposit Plus+ policy limit of six weeks rent.

Deposit Plus+ is tenant paid. No cost to the property owner.

RentSense Deposit Plus+ not only saves time and money on the administration of collecting and maintaining security deposits, but it also creates an incremental revenue stream.

By charging each tenant a set-up fee (amount at property owner discretion), property owners collect on-going revenue per unit per year. This is money paid directly to the property owner.

Example: $50 per unit per year- direct to owner

  • 2,000 homes   = $100,000
  • 10,000 homes = $500,000

     

Valuable and Sensible. That’s RentSensibility!