Insurance

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Texas Security Deposit Law: Why the New Deposit Bill Is a Win for Multifamily

With legislation around the eviction moratorium, rent relief programs, and security deposits constantly evolving, Texas property owners and operators need to stay up-to-date on the latest rental housing laws. What are the biggest challenges facing both operators and their residents, and what do multifamily experts in the region have to say? What does the newest…

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Illinois Rental Laws: The Guide to Rent Assistance & Deposit Legislation

Illinois property owners and operators are constantly navigating ever-changing rental housing laws. With new legislation around rental assistance and security deposits, what do these policies mean for multifamily in the Chicago region and Illinois as a whole? In light of new rental assistance programs, as well as a wave of security deposit legislation sweeping across…

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California Rental Laws: What to Know About SB 91, Rent Control, Deposit Laws & More

California lawmakers extended a statewide eviction moratorium through June 2021 and passed an emergency measure to deliver $2.6 billion in rent relief. Local jurisdictions in San Diego and Los Angeles counties have also passed their own eviction moratoriums. With strict rent control in cities such as Santa Monica, and tightening security deposit legislation across the…

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Atlanta “Renter’s Choice” Law: What the Security Deposit Bill Means for Multifamily

Note: The information contained in this article is provided for informational purposes only, and should not be construed as legal advice on any subject matter. You should not act or refrain from acting on the basis of any content included in this article without seeking legal or other professional advice. The contents of this article…

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What Is Lease Insurance, And Why Do Apartment Operators Need It?

Lease insurance—what exactly is it? In the multifamily industry, apartment lease insurance is a completely new insurtech product designed to totally eliminate costly security deposits, drawn-out surety bond applications, and confusing guarantee programs, all of which are burdensome for both residents and operators. LeaseLock deploys lease insurance through its Zero Deposit Platform and unlike common…

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As Vacancies Rise, Class A Properties Seek a Competitive Edge

The pandemic has impacted multifamily in a range of ways, and all operators face a unique set of challenges. While the economic effects of the pandemic hit Class C residents notoriously hard, all asset classes have been affected by different market forces. For example, Class A apartments have been especially hard-hit by renter movement away…

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Security Deposit Replacement vs. Deposit Alternative: Which is Better?

For too long, security deposits have been an albatross around the apartment industry, burdening both residents and operators. For renters, deposits are an expense few can afford. A study by CareerBuilder found that 78% of U.S. workers were living paycheck to paycheck, meaning nearly 8 out of 10 renters don’t have the savings to pay…

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Security Deposit Replacement Legislation: A Lay of the Land

UPDATED – February 2022 Nearly a third of US states have passed, proposed, or pledged support for deposit replacement laws. A majority of US states have deposit restrictions. Atlanta is the latest city to pass deposit replacement legislation, while Columbus and Miami are considering similar plans. What Are Security Deposit Replacement Laws? Security deposit legislation…

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The Top 4 Benefits of Lease Insurance for Rental Housing

As almost anyone who has worked in multifamily will tell you, this industry can be very slow to embrace change. Security deposits – and, to a lesser extent, surety bonds – have long been part of apartment operations, and it’s difficult for many property managers to imagine life without them. However, some forward-thinking operators across…

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