Security Deposit Alternatives

Sign more leases in less time

Move In Residents. Move Out Risk.

Alternatives to cash deposits are increasingly becoming part of the property management landscape. Even before the COVID-19 pandemic, traditional security deposits were often a financial burden for residents that deterred them from signing a lease. But, for property managers, offering a deposit alternative that lowers resident move-in costs hasn’t always been hassle-free.

Thankfully, not all security deposit alternatives are created equal. At Assurant, we created a surety bond deposit alternative that helps you lower move-in costs for residents while guaranteeing that you’ll receive payment up to the full bond amount. And it’s the only deposit alternative with integrated collections to help you recoup any outstanding resident debt. Whether you’re responding to new state and municipal requirements to offer cash deposit alternatives or you’re focused on making your properties more competitive, we can help.

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FlexDeposit^®

Lower Move-In Costs

A nationwide Assurant study found that renters rank lower move-in costs as one of their top two priorities when it comes to choosing a new rental. And 71% believe it’s important for a surety bond alternative to be offered during the leasing process. With Assurant’s FlexDeposit surety bond, you get the same property coverage as a traditional deposit while your residents get lower upfront move-in costs. So, whether you’re dealing with a younger, up-and-comer renter or a renter looking to downsize, you can increase your occupancy without sacrificing your protection.

FlexDeposit Key Features

Proprietary, risk-based algorithm reduces your risk while offering residents favorable rates
Guaranteed preapproval of all your residents for a faster move-in experience
Paperless enrollment in less than 2 minutes
Guaranteed coverage up to the bond amount
Quick, online payments from any device

Explore FlexDeposit

Integrated Collections

Decrease Your Risk Exposure

Lowering move-in costs for your residents shouldn’t put you at more risk. That’s why FlexDeposit is the only deposit alternative on the market that provides integrated collections when a resident moves out. Whether it’s wear and tear from pets or a resident who paints your walls, we’ve got you covered.

Man seating down holding a paint roller and looking at his dog

Features of Integrated Collections

ACA-certified recovery experts handle collections quickly and efficiently
Strict compliance with all federal, state, city, and municipal laws
In-house, highly trained recovery specialists licensed in all 50 states
A comprehensive portfolio listing for all your properties
Online dashboard of paid and unpaid accounts going back 6 years
You don’t pay until you get paid
No additional cost to you

Explore Recovery Solutions

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Drive Occupancy and Reduce Bad Debt With Deposit Alternatives

Your residents don't need to put down a security deposit to keep your property protected. Learn more about how security deposit alternatives can provide key options to residents.

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Mandated Security Deposit Alternatives Could be Beneficial for Both Property Managers and Residents

Recognizing the financial challenges of security deposits for residents, the government is considering legislation requiring property managers to offer alternative ways to secure housing. Here's why this could be beneficial to you and your residents.

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Security Deposit Alternatives

Sign more leases in less time

Move In Residents. Move Out Risk.