Security Deposit Replacement

Say goodbye to security deposits

Say goodbye to security deposits for good. With a Security Deposit Replacement Agreement, tenants pay a monthly fee instead of a lump sum security deposit.  In addition, the landlord no longer has to account for the deposit when the tenant surrenders the home.  The landlords receive double the coverage of a traditional security deposit and the home is returned to the landlord in the condition it was in prior to the tenant taking occupancy.

Security Deposits are often used to offset damages made by the tenants and their guests and to make up for violations or late fess levied by the landlord. Tenants ultimately forfeit their deposits upon move out because they are blamed for repairs that are considered “normal wear and tear’ or the landlord didn’t consider the home “clean” when the tenants moved out. We have solved this problem by eliminating the dreaded security deposit in exchange for a low monthly fee paid by the tenants for the duration of the lease. 

In most cases the Security Deposit Replacement covers damages up to twice the amount of the monthly rent and provides the landlord with less hassles at move out. RentSUREY will insure that the home is returned to the landlord in the same condition it was in when the tenants took occupancy. The example illustrated below shows the base rent is $2,000 per month. The maximum coverage is $4,000. Tenants will pay a one-time Initial Premium of $300 and $84.08 per month. This brings the monthly rent to $2,084.08. 

Security Deposit Replacement Max Coverage Amount: $4,000.00

Initial Premium Monthly Installments Rent Amount
$300.00 $84.08 $2,084.08

Security Deposit Replacement 
Coverage Limits
Lawn Care $200
Painting $1,000
Flooring $1,000
General Handyman $800
Make Ready Cleaning $400
Appliances $400
Fees and Violations $200
Total Coverage $4,000

This is not a waiver of responsibility.  In accordance to the lease agreement, tenants are fully responsible for all rental payments.  Any breach of any section of the lease agreement could result in legal action on behalf of the landlord.  Any changes to the tenant’s employment, income, or source of income prior to or at any renewal period could result in changes to the Initial Premium and/or Monthly Installments. 

The Security Deposit Replacement agreement is optional. Tenants may, at anytime during the lease term, opt out of the Security Deposit Replacement Program by notifying the landlord or the landlord’s representative and pay a full deposit. Deposits are twice the rent amount. The monthly fee for this program is non-refundable.