NMHC Top 50 operators deploy LeaseLock Zero Deposit
LeaseLock, “the only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits, surety bonds and guarantors in rental housing,” is announcing a continued partnerships with its National Multifamily Housing Council (NMHC) Top 50 enterprise clients which include Greystar, Pinnacle, Avenue5 Residential, Bell Partners, and First Communities, to implement Zero Deposit nationwide.
LeaseLock Zero Deposit is fully automated within the native leasing workflow, enabling renters to pay a small deposit waiver fee that generates over $5,000 in coverage for the property on every lease. The company has integrations with major property management software systems, including Yardi, RealPage and Entrata, and it insures leases totaling more than $200 million in value.
“Multifamily operators are responding to COVID-19 with policies around resident support and preservation of occupancy. They are seeking ways to do the right thing for their residents during this time of crisis. We are doing everything we can to support our enterprise clients as they navigate the uncertainty created by COVID-19. As a way to assist and inform multifamily operators through the rapidly evolving COVID-19 landscape, we have initiated an ongoing COVID-19 Alerts program. Our most recent alert offered insights into rent relief resources and how other NMHC operators are implementing these resources for residents. We feel these alerts are an invaluable tool.” – Ed Wolff, CRO of LeaseLock.
“Our April rent payment data analysis showed that more operators are seeking to preserve occupancy by accepting more partial payments and working closely with residents to stay in their apartment homes. Adding Zero Deposit helps reduces total move-in costs and converts more prospects looking for new homes during this challenging time. All while providing over $5,000 in rent and damage loss protection to the property. It’s truly a win-win for both sides.” – Derek Merrill, CEO and cofounder of LeaseLock.
