RentOpt is an innovative program designed to help applicants who don’t have perfect rental and credit history and are required to pay an increased security deposit. Usually, a person in this situation would be required to pay not only the first month’s rent but also a higher security deposit that could be up to one month’s rent. For many people, it can be difficult or impossible to pay these charges upfront and that is where RentOpt comes in. With RentOpt, residents’ upfront payments are limited to the standard security deposit payment of $150. This program allows residents to avoid the higher security deposit payment upfront through small, non-refundable monthly payments of between $15 and $45.
RentOpt is designed to give you greater flexibility, lower your upfront security deposit payment, and allow you to move into your new home faster and easier.
- Provides eligible prospective residents with an optional security deposit payment plan
- At lease signing, only a $150 security deposit is required
- A non-refundable monthly fee is added to the monthly rental amount based on credit score, the size of the unit that is leased and the length of the lease term
- 1 Bedroom: Fees range from $15 to $35
- 2 Bedroom: Fees range from $20 to $40
- 3 Bedroom: Fees range from $30 to $45
- The $150 deposit is refunded upon move-out if all requirements of the lease have been met and the apartment is left in acceptable condition
- Resident will remain liable for any damage and collections over the $150 security deposit amount
- This program is only available for residents that meet certain minimum credit standards as determined by the property manager
- The property manager reserves the right to cease offering the program at any time without advance notification
- This program is not insurance and does not cover personal or property damage