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USA Real Estate Blog

Rental insurance coverage tech firm now providing various to safety deposits | 2018-06-14

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Multifamily insurance coverage technology supplier TheGuarantors is rolling out a brand new product as an alternative choice to commonplace safety deposits.

Safety Deposit Substitute replaces hefty safety deposits with a a lot decrease, one-time fee that may make renting in excessive value markets extra inexpensive.

“SDR extends our vary of providers designed to eliminate the numerous inefficiencies within the rental course of, giving tenants extra choices and serving to landlords scale back danger and enhance monetary outcomes,” TheGuarantors Managing Director Joe Ben-Zvi stated in a press release.

“With SDR landlords are getting a greater safety in comparison with commonplace safety deposits, whereas residence seekers drastically scale back the excessive upfront prices of leases,” he added.

Safety deposits are large cash within the business, and U.S. landlords maintain safety deposits in extra of $50 billion. SDR permits landlords to keep away from the executive burden of holding a number of safety deposits

“Our full suite of danger discount merchandise helps make the residence rental course of safer, simpler, and more cost effective for landlords and tenants alike, which in the end creates extra belief in landlord-tenant relationships,” TheGuarantors Founder and CEO Julien Bonneville stated in a press release.

 “As we proceed to develop our providing and consumer base, TheGuarantors is worked up to assist extra people discover and transfer into their new houses,” he added.

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