Rent your units faster + protect your property

Standby Deposits make your property more attractive to renters with no up-front cash deposit requirement - All while protecting your property with a hassle free standby security deposit that’s available to you at any time

Benefits

A better way to solve deposits

Lower Vaccancy
A no-cash move-in allows you to rent faster and lower your vaccany. It improves your product
Higher Revenue
Lower vaccancy, a stronger product and admin fees generate immediate revenue
Same Protection
A Standby Deposit has the exact same protection as a cash deposit. It is available to be transferred into a bank account on demand
Standby Deposits

A normal deposit, minus all the hassle

Exactly the same protection as a cash deposit without the admin hassle

On-demand access to cash
No returning a check to a resident with interest (if state requires)
Faster turnaround
How it works

How do Standby Deposits work?

1

Sign up you residents

Either by bulk upload or by individual Standby Deposit creation. We send an email to them to finish the process
2

We do a few checks and create a Standby Deposit

Verify their identity and check credit
3

Move-in your residents

You're protected by a Standby Deposit
How it works

What happens at move-out?

1

Lease ends

Resident moves out
2

Do an inspection

Check if there is damage to the apartment or unpaid rent/costs - just as with a cash deposit
3

The Standby Deposit is used if needed

If there is damage or unpaid rent / costs, then the Standby Deposit is available on demand. Otherwise, you just cancel it
eligibility and terms

All you need to know

Resident eligibility:
Everyone is eligible
Pricing depends on your credit score
Pricing starts at $4 per month for a $1,000 Standby Deposit
Terms:
It's funds that belong to you
Exactly in the same way a cash deposit would be used
No claims process. Standby Deposits Inc. doesn't get involved
Local and state laws about cash deposits usage apply
Terms:
Landlord agrees not to request a cash deposit
Instead a Standby Deposit is accepted
Standby Deposit provides exact same protection
No cash is held by landlord but cash is available on demand
Close-out terms:
A Standby Deposit is to be used exactly like a cash deposit
No claims process. Paid on demand
Landlord is liable to follow laws exactly as if they had used a cash deposit
Disputes solved in same forum as cash deposit disputes