LeaseLock, the exclusive provider of lease insurance for rental housing, has partnered with DepositCloud from ResidentRadius to fully remove the burden of deposits for rental housing. The strategic integration of these distinctive solutions empowers renters to enroll in Zero Deposit™ while providing a full-service cash management platform for remaining deposits.
Housing operators and investors are dedicated to providing accessible housing for renters while streamlining operations and ensuring compliance. Deposit Cloud removes administrative burden as well as risk and compliance challenges by handling all deposit requirements, including renter communication. By minimizing the complexities surrounding deposits, DepositCloud and Zero Deposit elevate the leasing experience at move in and move out, and remove the friction deposits inevitably create.
LeaseLock and ResidentRadius are collectively committed to delivering industry solutions that serve the best interests of renters, property operators and investors simultaneously. Deeply embedded in the DepositCloud platform, renters enroll seamlessly in Zero Deposit, choosing not to leave deposits 97% of the time. Removing deposit cost accelerates leasing decisions while ensuring properties have optimal protection from unpaid balances at move out.
“Deposits are a barrier to leasing that guarantee bad debt. LeaseLock replaced deposits while offsetting the risk of inevitable write offs” said Janine Steiner Jovanovic, CEO of LeaseLock. “DepositCloud facilitates Zero Deposit enrollment while absorbing operating burden and mitigating risk, when renters choose to leave a deposit.”
“DepositCloud and LeaseLock Zero Deposit are the perfect match,” said Michael Bowman, CEO of Resident Radius. “We’re excited to offer an integrated solution for the industry that meaningfully streamlines operations, enhances leasing for renters, and delivers 3-5% more NOI for investors.”
About LeaseLock
LeaseLock is the leading insurance technology provider for rental housing. Our AI powered underwriting, LeaseLock Shield™, predicts risk and optimizes coverage for each property and portfolio. Owners and operators gain smarter loss protection while accelerating leasing and minimizing regulatory and legal risk. With over $10 billion in leases insured, LeaseLock is reshaping the way investors and operators manage financial risk while delivering significant benefits to renters. As an accredited GRESB partner, LeaseLock is dedicated to improving housing accessibility by removing financial barriers for renters while protecting against the risk of bad debt. Learn more at www.leaselock.com.
About ResidentRadius
ResidentRadius is the leading innovator in rental housing for cash management and compliance solutions, with nearly 1 million multifamily, single family and student housing units serviced nationwide, ResidentRadius leverages cutting-edge technology to improve the lives of renters and property operators in rental housing, with a focus on affordability and sustainability. ResidentRadius substantially increases NOI and reduces bad debt, by eliminating operating costs, empowering staff to focus on revenue generating efforts, and improving the renter experience. For more information visit: http://www.residentradius.com
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