Assurant’s total deposit solution
Assurant has launched FlexDeposit, a security deposit alternative product that offers the benefits of a surety bond without a claims pool.
FlexDeposit gives property managers an easy-to-implement alternative to traditional security deposits, enabling them to attract residents who might find a traditional deposit cost-prohibitive. With preferable rates for lower-risk residents, no property-level pooling, and generous contract lengths, FlexDeposit is the latest innovation in Assurant’s suite of products that support the multifamily housing market.
FlexDeposit, along with Assurant’s recent partnership with Deposify, positions Assurant as the only provider to offer a total deposit solution that both reduces administrative and compliance hassles of managing cash deposits, while offering residents a flexible alternative to traditional deposit that helps PMCs with occupancy. FlexDeposit is going nationwide and is currently available in 41 states.