What is LeaseProtect?
LeaseProtect is an alternative to a traditional security deposit that allows you to lower your move-in costs. It is a non-refundable payment.
How do I sign up and what is the qualification procedure?
Simply sign the LeaseProtect addendum provided by the community leasing staff. Your approval to live in the community automatically qualifies you to use LeaseProtect.
How often do I need to pay for LeaseProtect?
You only need to pay once prior to move-in. There are no additional payments required at renewal.
What if I leave early or transfer apartments?
If you vacate the unit early, the LeaseProtect payment is not refundable. Please consult the manager for your community’s specific policies on apartment transfers.
If I have a roommate, does my roommate also need to pay for LeaseProtect?
There is only one payment required per lease. If there is more than one lease for your apartment unit, additional payments may be required.
Is the LeaseProtect payment refundable?
In most instances, the payment is not refundable. If you cancel your lease or application prior to move-in, your community may have specific policies where a refund can be processed.
What happens at move-out if I honor the terms of my lease?
You do not have any further obligations to LeaseTerm Insurance Group, LLC or your community.
What happens if I default on my lease or cause other damages?
You remain fully responsible for all monetary losses and property damages under the terms of your lease. Failure to honor these obligations could result in collection actions and have negative consequences on your credit report or ability to obtain credit in the future.