What is FlexDeposit?
FlexDeposit is a deposit alternative that gives you maximum coverage per unit while reducing upfront move-in costs for
your residents.
It’s a surety bond option, not insurance or another security deposit and isn’t a way to reduce your community’s
screening standards. With FlexDeposit, residents have the option to make a one-time nonrefundable fee to cover costs
related to property damage or an unfulfilled lease agreement. We’ll provide coverage up to the bond limit amount for
the life of the bond.
Here’s how to enroll residents:
- Go to FlexDeposit.com
- Click on “New Bond Application”
- Add your resident’s information
- Enter the community and lease information
- Include the bond amount based on your community deposit requirements and send the application
We’ll then send an email notification instantly to your resident.
Then, your residents will:
- Click on the application link in the email
- Enter their required information and click “Apply Now”
- Review the bond payment amount and terms and conditions, and add their e-signature
- Enter payment information and submit payment
A bond ID number will appear on the resident’s screen after their payment’s processed.
Need to file a claim once a resident moves out?
Follow our quick guide:
- Log on to FlexDeposit.com to file a claim
- Tell us about your claim by including the amount of damages and a description
-
Upload all required documents including:
- - Final move-out statement or ledger detailing amount due
- - Copy of original rental application reflecting bondholder’s full Social Security number and date of birth
- - Complete lease agreement with bondholder’s name and signature
- - Repair invoices and receipts (if applicable)
- - Photographs (only applicable if claiming physical damages to the property;JPG format preferred)
- - Additional documents (optional)
Review your claims submission and make sure all the necessary documents are included to eliminate any potential delays. Then, you can view your claim under the Claims History tab.