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SureDeposit – Increasing risk mitigation and providing residents with options

SureDeposit is a risk management tool that enhances traditional security deposits by offering surety bonds to residents. SureDeposit is the market leader, with hundreds of thousands of units under agreement in communities nationwide. Since the year 2000, SureDeposit has assisted property owners in decreasing expenses and administrative burdens, while improving their bottom line.

SureDeposit is based on a simple concept: instead of requiring a full security deposit, residents are offered the option to pay a modest one-time non-refundable payment for enrollment in the surety bond program. 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. The one-time payment covers residents for the life of their residency in the participating community, no matter how many years they reside in the apartment.

How does SureDeposit work?

SureDeposit is a surety bond.* Under the surety bond, SureDeposit promises to pay the landlord in the event the resident does not uphold the financial obligations in the lease agreement or return the apartment in good condition. The resident is then required to reimburse SureDeposit for any damages, loss of rent and related expenses that SureDeposit paid to the landlord.

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*SureDeposit bonds are issued by American Bankers Insurance Company of Florida. (In Minnesota - American Security Insurance Company.)