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Never worry about security deposits again.
Traditional security deposits are a hassle
Standby Deposits make things easier for owners, operators and residents
Residents keep their cash and operators don’t compromise on peace of mind
Benefits for Owners & Operators
A Better Security Deposit Solution
For Owners and Operators
What Residents Love
A New Way To Pay Security Deposits
For Residents
A Seamless Move-In
Property Offers a Standby Deposits to Residents
Residents are automatically offered a Standby Deposit once they have been approved as a future resident by the property. Through our integrations, we piggyback on the move-in workflow that already exists, without adding additional work to the on-site team. The property has on-demand access to the full deposit amount and the system shows that for the entire lease.
Resident Applies for a Standby Deposit
Residents provide their details and breeze through a swift approval process. Once approved, they’ll receive a Standby Deposit as an alternative to a cash deposit. The property team will be notified of the approved Standby Deposit.
Protected During the Lease
Fully protected
Properties enjoy the same level of protection as a traditional cash deposit, with on-demand access to funds.
Residents take care of their apartments
Just like with a tradition security deposit, residents are liable to take care of their apartments. Residents are still liable for damages or unpaid charges - up to the amount of the Standby Deposit
Straight Forward Move-Out
Are there damages or unpaid bills?
At move-out, the on-site team goes through their normal workflow of checking for damage or unpaid charges. If anything is oustanding, then the Standby Deposit is automatically drawn upon and the amount is transferred to the property.
Did the property need to draw on the Standby Deposit?
If the property needed to draw on the Standby Deposit, then the resident is responsible for covering that cost. Otherwise, the Standby Deposit is simply cancelled at move-out and the subscription fee is no longer charged.
Interested in learning about Standby Deposits?
Change the way people rent, while reaping all the benefits of lower vacancy, less hassle, happier residents and the same protection as cash.
