- What is EASY DEPOSIT
- What is a Security Deposit Guaranty?
- How do I sign up?
- What happens at the end of my lease term?
- How long is the apartment community covered by me paying this one time premium?
- What happens if I move to another Apartment in this Apartment Community?
- Are there any other costs for EASY DEPOSIT?
- Do I get my Non-refundable enrollment fee and your monthly administration fees back at the end of my lease?
- What happens if I owe rent, fees, or cause damage to my apartment upon move-out?
- Question: What is EASY DEPOSIT?
Answer: EASY DEPOSIT guarantees the performance of a resident according to the terms of a signed lease agreement. The resident promises to return the unit in good condition, and to satisfy all rental and financial obligations. If the resident does not meet their obligations, they are required to reimburse the Guarantor EASY DEPOSIT for the amount owed of their rental and financial obligations.
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- Question: What is a Security Deposit Guaranty?
Answer: A Security Deposit Guaranty is a written agreement that usually provides for monetary compensation in case the resident fails to perform the acts as promised. A Security Deposit Guaranty is a form of guaranty that is created whenever one party guarantees performance of an obligation by another party.
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- Question: How do I sign up?
Answer: Once you accurately complete the EASY DEPOSIT application, pay the required one-time, non-refundable premium, and receive a fully executed Tenant Participaton Agreement, you are automatically an EASY DEPOSIT client when your new lease is approved.
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- Question: What happens at the end of my lease term?
Answer: After you pay your last month's rent and honor the other conditions of your lease, you simply move out without any further obligations. If you have not fulfilled your commitments under the lease, the Guarantor EASY DEPOSIT must pay the Property Owner and you (the resident) will be required to reimburse the Guarantor EASY DEPOSIT for damages, loss of rent and related expenses.
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- Question: How long is the apartment community covered by me paying this one time premium?
Answer: Guaranty is purchased for the benefit of the apartment community and is intended to remain in force for the duration of your tenancy. However, if your apartment community is sold, we cannot warrant that the new owner will keep the Guaranty in force, and you may be required to post a security deposit upon lease renewal in accordance with applicable landlord/tenant law.
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- Question: What happens if I move to another Apartment in this Apartment Community?
Answer: Your EASY DEPOSIT Guaranty can move with you to the new unit in this community or any other apartment community your Property Owner has enrolled in the EASY DEPOSIT program.
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- Question: Are there any other costs for EASY DEPOSIT?
Answer: No - your onetime Non-refundable enrollment and applications fees are all you pay, if you have fulfilled your lease obligations. If you have not fulfilled your lease obligations, and the Guarantor EASY DEPOSIT is required to pay them to the Property Owner on your behalf, you will be required to reimburse the Guarantor EASY DEPOSITfor damages, loss of rent and related expenses, such as legal and collections fees.
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- Question: Do I get my Non-refundable enrollment fee and your monthly administration fees back at the end of my lease?
Answer: No - all fees are non-refundable.
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- Question: What happens if I owe rent, fees, or cause damage to my apartment upon move-out?
Answer: EASY DEPOSIT (the Guarantor) will be obligated to pay your debt to the Apartment Community and then we will collect this debt from you. This is the essence of the Security Deposit Guaranty that you are signing.
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