Avenue5 Residential Selects LeaseLock to Eliminate Security Deposits
Retrieved on:
Tuesday, June 30, 2020
LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds, and guarantors in rental housing, today announced Avenue5 Residential has selected LeaseLock as its exclusive national vendor for security deposit replacement.
Key Points:
- LeaseLock , the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds, and guarantors in rental housing, today announced Avenue5 Residential has selected LeaseLock as its exclusive national vendor for security deposit replacement.
- Avenue5 Residential is the fastest-growing enterprise multifamily operator with more than 70,000 apartment homes nationwide.
- LeaseLock has insured $10 million in leases for Avenue5 Residential across premier ownership clients including ColRich, Trinsic, and Compass Acquisition Partners, resulting in 5x greater protection against rent loss and damage compared to security deposits.
- Financially, depositsalong with surety bondsdo not make a lot of sense, said Mark Stringer, Executive Vice President at Avenue5 Residential.