Landlords of multi-family dwellings nationwide no longer have to require security deposits to stay secured of damages. Instead of requiring security deposits, landlords can choose to contract with Jack and Landlords, who in turn, issues a guarantee to the landlord, to pay for any loss of rent or property damages up to the tenant's first month's rent amount.
Through an agreed landlord addendum to the tenant's lease, the tenant is responsible for paying the guarantee cost, in addition to their monthly rent each month. Landlords can choose to collect monthly guarantee payments from their tenants and then pay Jack and Landlords. Or, landlords can choose to have tenants subscribe with Jack and Landlords to have their monthly guaranty payments drafted from their checking.
The guarantee price is just 65% of the tenant's first month's rent paid in 12 equal installments. Once the guarantee price is paid, there are no more payments, and the guarantee stays in effect until the tenant terminates their lease, with no costs to the landlord, ever.
(Ex. Rent - $1,000; Cost / Monthly - $650 / $54.17)
Click on the pages above to learn more. All guarantees are fulfilled online. Just follow the 3 simple steps in the sidebar.