SmartDep Security Deposit Replacement™ program provides landlords with greater protection from property damage and unpaid rent than the traditional security deposit and eliminates the hassles, costs and risks of holding security deposit funds. It’s the perfect alternative to a traditional security deposit giving landlords the same peace of mind without the significant upfront cost of a security deposit for the tenant.
Relieving tenants of the burden of a security deposit can be a significant advantage for a landlord.
Ask about the following options for a customized plan to fit your rental property.
- $1,500 or $3,000 Accidental Damage Protection
- $750 or $1,500 Skipped Rent Protection
- Total Property and Single Unit Options Available
- Mid-Term Option Available – Get Started Right Away
- Pet Damage Protection Available
The financial obligations behind this program are insured through a policy issued by Virginia Surety Company, Inc.
Screen a Prospective Tenant with the Renter Report Card™
Standing Behind the Tenant Screening Decision
Every unit covered by SmartDep is analyzed by the Renter Report Card™. The Renter Report Card screens a prospective tenant for the program returning an immediate Approved or Declined decision.
The Renter Report includes:
- Credit Report w/FICO® Score
- PRBC® Consumer Report with FICO® Expansion Score®
- Evictions Report
- FICO® GRID Score – fraud detection component
- Sex Offender Search
- WatchList OFAC Report
All prospective tenants screened by the Renter Report Card are eligible for the SmartDep program; however, a landlord will not receive skipped rent protection for anyone that is declined by the Renter Report Card. The Renter Report Card also allows landlords to establish their own custom tenant screen and incorporate any supplementary data they desire.
SmartDep Claim Center
Making a claim with SmartDep™ is fast and straightforward. To make a claim for damages or skipped rent, complete the appropriate Proof of Loss form and mail or email mail it back to us.
Claims are made as damages occur so tenants can keep their homes looking beautiful year round. Be sure to include required documentation such as a photo of the damage and a repair estimate for damage claims.
Skipped Rent Claims
For skipped rent claims, you will need to submit documentation such as a copy of the original tenant application and all correspondence to tenant regarding delinquent rent. Please refer to the appropriate proof of loss form for full instructions.
Frequently Asked Questions
If you have any questions regarding the claims process or the SmartDep Security Deposit Replacement Program, please download the FAQ Sheet located below.
Call us today at 1-888-877-8501 or email us at email@example.com and ask about our SmartDep program today!