The Alternative to Full Security Deposits. SureDeposit is based on a simple concept: instead of requiring a full security deposit, residents are offered the option of promising to return the unit in good condition and paying a modest one-time premium.

 

 

 

Frequently Asked Questions:

What is SureDeposit?
SureDeposit is based on a simple concept: instead of requiring a full security deposit, residents are offered the option of promising to return the unit in good condition and paying a modest one-time premium. Remember, it is an option - no property owner can require a resident to purchase SureDeposit as a condition of a lease. When a resident elects to use the SureDeposit program, they sign onto a surety bond that replaces (or supplements) a traditional security deposit. SureDeposit guarntees the performance of a resident according to the terms of a signed lease agreement. The resident promises to return the unit in good condition, and to satisfy all rental and financial obligations. If the resident does not meet their obligations, they are required to reimburse the Surety for the amount owed of their rental and financial obligations.

What is a Surety Bond?
A surety bond is a written agreement that usually provides for monetary compensation in case the principal fails to perform the acts as promised. A surety bond is a form of insurance that is created whenever one party guarantees performance of an obligation by another party. There are three parties to the agreement, as defined by the Surety Association of America.

How do I Sign Up?
Once you accurately complete the SureDeposit application and pay the required one-time, non-refundable premium, you are automatically a SureDeposit client when your new lease is approved.

What Happens At the End of My Lease Term?
After you pay your last month's rent and honor the other condidtions of your lease, you simply move out without any further obligations. If you have not fulfilled your commitments under the lease, the Surety must pay the Property Owner and you will be required to reimburse the surety company for damages, loss of rent and related expenses.

How Long Am I Covered for By Paying This One Premium Today?
For the duration of your residency at your community, including all lease renewals. In other words, whether you stay in the same community for six months or sixty years, the one-time premium is all you will pay SureDeposit.

If I do Owe Fees, Rent or Damage Expense, Can I Pay It Directly to the Apartment Community?
Yes. That is the best thing to do. Once the outstanding monies are paid to the Apartment Community, no claim will be filed and you will have no obligation to the Surety.

For more information, please visit: http://www.suredeposit.com/residents

 

 

 

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