Market level security deposits remain below historical levels and are inadequate to cover the cost of lease breaks and damages. Change this dynamic by offering your residents a low cost security deposit alternative. Residents can choose to pay the lower, non-refundable LeaseProtect fee/premium or an increased traditional security deposit.
LeaseTerm covers the community if the resident breaks any term or condition of the lease.
Benefits of the LeaseProtect Program:
Coverage includes lease default, property damages and extraordinary cleaning expenses.
Claims can be submitted on any expense that is covered by the lease or addendums.
The owner or fee manager is the beneficiary.
The cost is passed to the resident in the form of a one-time, non-refundable fee/premium.
LeaseTerm provides flexible and customized pricing and coverages.
LeaseProtect is easy to implement and reduces the time and cost of security deposit administration.
Improve NOI and Increase the Value of your Assets by:
Increasing Recoveries and Proactively Managing Bad Debt
Reducing the Cost & Process of Collecting Security Deposits
Increasing Occupancy by Offering a Low-cost Move-in Option