By reducing the funds renters need to move-in, BetterNOI 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.
Access to accumulated bond pool funds make reimbursement to the community faster and easier. Residents remain responsible for reimbursing the bond pool for withdrawals, while Better Collections, LLC automatically initiates collection efforts on your behalf through our network of prequalified collection agencies. As the value of your bond pool increases, accumulated funds can be used to cover capital expenditures or other operating costs.
Applicants do not need to qualify separately for the surety bond program. If they are qualified to rent the apartment, they are automatically qualified to participate in the surety bond program.
BetterNOI reduces the administrative burden and costs required by traditional cash deposits — from deposit account maintenance to deposit interest payments to legal reporting deadlines. BetterNOI offers simple, real-time access through our website or fax options.
|Cash Deposit / $1,500|
|Bond Purchase / $0|
|Cash Out of Pocket / $1,500|
|Cash Deposit / $500|
|Bond Purchase / $176|
|Cash Out of Pocket / $676|
|Cash Deposit / $0|
|Bond Purchase / $264|
|Cash Out of Pocket / $264|
More than just insurance coverage — BetterNOI partners with you to identify and mitigate leasing risk resulting in reduced financial losses. Working together, we can reduce the amount of unit damage expense sent to collections.
Expenses add up quickly from fire, smoke or water damage caused by resident negligence. BetterNOI standard liability policies protect the building owner for damages caused to the building while personal property policies protect residents' personal assets. Protection Choice policies are underwritten by RLI, an A+ (superior) rated organization.
A Resident Liability Insurance requirement is the first step in protecting your entire community from resident negligence. A Blanket Renters Liability Policy goes one step further, by implementing a community-wide liability policy.
Developed specifically for the multifamily industry, BetterNOI insurance programs recognize the importance of the three-way relationship between our organization, our property management clients and our shared renter customers. Unlike other insurance companies, we recognize the importance of BOTH types of customers. BetterNOI provides high quality insurance at competitive rates for renters while simultaneously providing outstanding risk mitigation and loss protection for owners.
Damages happen. When they do, BetterNOI makes it easy for property managers to submit claims directly, rather than waiting on residents to take action. Damage claims are expedited and processed quickly, with unit damage payments made directly to the community.