Rent your units faster + protect your property

Standby Deposits make your units more attractive to tenants by eliminating the need for a cash security deposit. You are still protected in exactly the same way as before - with immediate access to cash to cover anything a security deposit would cover.

Benefits

A better way to handle deposits

Lower your vacancy
Properties using Standby Deposits rent their units faster - meaning less empty units
Increase your NOI
With lower vacancy and a stronger market position - generate more revenue from your rental units
The same protection
A Standby Deposit provides the exact same protection as a cash security deposit - with cash available on demand
Standby Deposits

Like a normal deposit - without all the hassle

Exactly the same protection as a cash deposit - without all of the administrative hassle

Access to cash on demand if a deposit needs to be used at move-out
No checks to return to residents at the end of a lease
Faster move-in and move-out
How it works

How do Standby Deposits work?

1

Sign up your residents

Register individual move-ins or bulk upload your entire rent roll. We’ll contact your residents and finalize the process.
2

We run a few checks

Verify their identity and check their credit
3

Move in your residents

You are protected by a Standby Deposit from day one
How it works

What happens when residents move out?

1

The lease ends

The resident moves out
2

Walk through the apartment

Check for damage
3

Use the deposit if needed

If there is damage or unpaid rent - use the Standby Deposit and cash will be transferred into your bank account. If the deposit isn’t needed - you just cancel it.
eligibility and terms

All you need to know

Resident Eligability
Everyone is eligible
The price is based the residents credit
Most residents will pay around $4 per $1,000
Terms:
It's like cash in escrow
A Standby Deposit is used in the exact same way as a cash deposit
No claims process - Standby doesn’t get involved
The tenant is still responsible to repay Standby
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