Collateral Requirements

Based on a community's loss history, BetterNOI recommends deposit/collateral adjustments. Properly established collateral requirements offset the risk of losses in the future. Additionally, offering alternatives to traditional cash deposits maintains (or accelerates) leasing velocity.

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Deposit Choice, one of the BetterNOI multifamily solutions, offers surety bonds as an alternative to traditional cash deposits. Surety bonds offer a win-win opportunity — increased coverage for property managers and reduced move-in costs for prospective renters.
  • Marketing Advantage

    By reducing the funds renters need to move-in, Deposit Choice offers your leasing staff a competitive advantage. And as a powerful renewal tool, you can offer bonds to current residents and refund their security deposit.

  • Financial Leverage

    Access to accumulated bond pool funds make reimbursement to the community faster and easier. Residents remain responsible for reimbursing the bond pool for withdrawals to Deposit Choice automatically initiates collection efforts on your behalf. As the value of your bond pool increases, accumulated funds can be used to cover capital expenditures or other operating costs.

  • Automatic Qualification

    Applicants do not need to qualify separately for the Deposit Choice program. If they are qualified to rent the apartment, they are automatically qualified to participate in the Deposit Choice program.

  • Easy Administration

    Deposit Choice reduces the administrative burden and costs required by traditional cash deposits — from deposit account maintenance to deposit interest payments to legal reporting deadlines. Deposit Choice offers simple, real-time access through our website or fax options.

Benefits to Prospects
And to Leasing

Surety bonds allow communities to increase their move-in collateral requirements, without increasing "cash out of pocket" for prospects. In the example pictured below, a community with a $1,500 collateral requirement offers three move-in options to prospective residents.

Total Deposit / Bond Coverage: $1,500

Cash Only

Cash Deposit / $1,500
Bond Purchase / $0
Cash Out of Pocket / $1,500

Deposit + Surety Bond

Cash Deposit / $500
Bond Purchase / $176
Cash Out of Pocket / $676

Surety Bond Only

Cash Deposit / $0
Bond Purchase / $264
Cash Out of Pocket / $264
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