Eliminate the hassle of traditional security deposits
Standby’s security deposit solution helps owners and operators drive efficiencies, lower vacancy rates, and reduce move-in barriers
Traditional cash deposits are a thing of the past. Welcome to the future of renting
Traditional cash security deposits are a thing of the past. With Standby Deposits, owners and operators can reduce upfront move-in costs while maintaining on-demand access to funds - plus reducing vacancy rates, preventing commingling of funds and streamlining processes.
How a Standby Deposit Works
We Offer Your Residents a Standby Deposit
Once you approve an applicant, they automatically receive an offer to apply for a Standby Deposit. Once they are approved by us, we automatically update your system to show that the deposit is taken care of with a Standby Deposit. Everything is digital, so no cash changes hands but your property has access to the Standby Deposit funds on-demand.
Your Property Is Fully Protected
Just like with a cash deposit, your property has on-demand access to funds, up to the full deposit amount. On-site teams can rest assured, knowing that the deposit is there but without the hassle of managing it.
Standby Pays Any Charges At Move-Out
At move-out, the Standby Deposit is available to be used by the property. All the on-site team needs to do is their deposit accounting and if the deposit needs to be utilized, then it is transferred into a nominated account of the property. Residents will then settle up with us and we handle closing out the Standby Deposit
Seamless Integration With Your Property Management System
