AssureLease: Goodbye, Security Deposits
AssureLease SVP John DiSpaltro tells us his firm's insurance product was designed for the commercial real estate industry in collaboration with major property owners and managers. The beauty of the plan: It totally eliminates the need for traditional cash deposits by commercial and residential lease tenants, turning the security deposit from a loss center to a potential profit center. How? AssureLease is a landlord-controlled insurance program that replaces the traditional security deposit with a nominal charge added to the rent every month. All tenants share the cost, eliminating any tenant trouble while the unused premium goes directly to the landlord’s bottom line. Traditional security deposits, meanwhile, often are insufficient to cover damages and are subject to write-off. Plus, negotiating and managing deposits is time-consuming. For more info on our sponsor, click here.
