Move in with your money still in your account.
If your building uses Standby, you can skip the upfront deposit and pay a small fee instead. One soft credit check, nothing to install, and you owe money at the end only if your deposit was used.
Three minutes to skip the entire upfront deposit.
This is what the link your building sends you looks like.
What you are agreeing to.
- You keep your cash.
Usually $1,000 to $2,500 that would otherwise sit in someone else's account for a year.
- You pay a small fee.
You see the fee before you choose. It is not a deposit and it does not come back.
- Your credit score is not affected.
Checking whether you qualify is a soft check. It does not show to other lenders.
- You only repay what you owe.
Leave the place as you found it and you owe nothing. If your building is owed money at move-out, you repay Standby that amount, and only that amount.
- Cash is an option.
Use our portal to pay your full deposit in cash.
Questions residents ask.
You see the exact amount on the screen before you choose anything. It is usually a small fraction of what the deposit would have been. If you would rather see it in writing, email hello@standby.io with your building's name.
Neither. Standby gives your building a guarantee instead of you handing over cash. You pay a small fee for it. If your building is owed money at move-out, you repay Standby that amount, and only that amount.
Checking whether you qualify is a soft pull, which does not affect your score. Paying Standby on time works like paying rent on time. A missed payment to Standby can be reported the way a missed rent payment is.
No. You can always pay a cash deposit instead, through the same link. It is held under your lease and your state's rules and returned to you at the end, less anything you owe.
Your building inspects and itemises as normal. If nothing is owed, nothing happens. If something is owed, the building draws it from Standby and you repay Standby. You see every line item.
Yes, and most residents who do get a discount for it. Ask your building or email hello@standby.io.
No. It is the price of not paying an upfront deposit, in the same way rent is the price of living there. The deposit you did not pay stays in your account the whole time.
Got an invite? Open it. It takes three minutes.
If you cannot find the link, or your building does not use Standby yet, write to us.