As Secure as Cash Security Deposits
Securent™ is a surety bond program that is a financially equivalent substitute for cash security deposits.
Securent™ is competitively priced for your Tenants and does not have the traditional burdens or restrictions of cash security deposits, such as certain states requiring a judgment before the property owner can use the security deposit.
This is a risk mitigation tool for the 21st century for Landlords and Property Managers.
The process is simple and straightforward. The entire process for Tenants and Landlords/Property Managers is automated from the application to payment for the bond to document execution and bond issuance. There is a unique login provided to each property owner to manage their bonds and submit claims directly through this web portal. Securent provides timely access to the funds because payment is facilitated promptly upon receipt of proper claim documentation by the bond provider.
We issue a surety bond that protects landlords and property managers against physical damage in a rental unit (beyond normal wear and tear) and missed rent payments up to a specified limit (i.e typically the amount of the security deposit), while the tenant pays a premium for the bond.
In the event of a loss, the landlord or property manager submits a claim to Zurich for the amount of the default up to the limit of the bond.
Landlords and property managers can view pending bonds for all of their properties, track performance and submit claims all through our automated web platform.