A Better Security Deposit Solution

Never worry about security deposits again

Traditional security deposits are a hassle

‍Standby Deposits make things easier for owners, operators and residents
‍
Residents keep their cash and operators don’t compromise on peace of mind

Benefits for Owners & Operators

Hanley Place

2 Units

Leased

Lake house

1 Unit

Leased

4390 Terrace Street

420 Units

Leased

Hanley Street

1 Unit

Leased

4390 Terrace Street

4 Units

Leased

Hanley Street

1 Unit

Leased

808 S Michigan Ave

200 Units

Leased

500 N Westshore

120 Units

Leased

Mountain Cottage

1 Unit

Leased

808 S Michigan Ave

2 Units

Leased

A Better Security Deposit Solution

For Owners and Operators

REST ASSURED. We’ll guarantee the full amount of the security deposit on behalf of your resident.

KEEP FUNDS SEPERATE. Standby Deposits manages all of your deposits for you, preventing commingling of funds.

SAVE MONEY. Standby is absolutely free for owners and operators, meaning there are zero additional costs for you.

NO CLAIMS PROCESS. Receive funds at move-out without any burdensome claims processes.

KEEP YOUR EXISTING SYSTEMS. Our PMS integration enables your team to use existing platforms and processes.

SAVE TIME. Standby Deposits eliminates the need to spend time processing cash deposits, reducing the workload for property managers.

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What Residents Love

4390 Terrace Street

Security deposit

1 Unit

Lease duration

Dec 23, 2021 – Dec 23, 2022

Standby Deposit

is active until Dec 23, 2022

4390 Terrace Street

Security deposit

$1,500

Lease duration

Jan 24, 2024 – Jan 24, 2025

Standby Deposit

is active from Jan 24th, 2024

4390 Terrace Street

Security deposit

1 Unit

Lease duration

Dec 23, 2021 – Dec 23, 2022

Standby Deposit

is active until Dec 23, 2022

A New Way To Pay Security Deposits

For Residents

HOLD ONTO YOUR CASH. Keep your money for the things you care about, with no upfront deposit required.

LOW MONTHLY FEES. Pay as little as $4 a month for your Standby Deposit.

STRAIGHTFORWARD SIMPLICITY. No hidden fees, no sneaky fine print, and no confusing financial lingo.

CLARITY IS KEY. When your lease ends, if the property manager needs to draw on your Standby Deposit, you're responsible to cover the cost.

A Seamless Move-In

Property

Property Offers a Standby Deposits to Residents

Residents are automatically offered a Standby Deposit once they have been approved as a future resident by the property. Through our integrations, we piggyback on the move-in workflow that already exists, without adding additional work to the on-site team. The property has on-demand access to the full deposit amount and the system shows that for the entire lease.

Resident

Resident Applies for a Standby Deposit

Residents provide their details and breeze through a swift approval process. Once approved, they’ll receive a Standby Deposit as an alternative to a cash deposit. The property team will be notified of the approved Standby Deposit.

Protected During the Lease

Property

Fully protected

Properties enjoy the same level of protection as a traditional cash deposit, with on-demand access to funds.

Resident

Residents take care of their apartments

Just like with a tradition security deposit, residents are liable to take care of their apartments. Residents are still liable for damages or unpaid charges - up to the amount of the Standby Deposit

Straight Forward Move-Out

Property

Are there damages or unpaid bills?

At move-out, the on-site team goes through their normal workflow of checking for damage or unpaid charges. If anything is oustanding, then the Standby Deposit is automatically drawn upon and the amount is transferred to the property.

Resident

Did the property need to draw on the Standby Deposit?

If the property needed to draw on the Standby Deposit, then the resident is responsible for covering that cost. Otherwise, the Standby Deposit is simply cancelled at move-out and the subscription fee is no longer charged.

How Standby works →

Say goodbye to the hassle of traditional security deposits.

Having moved apartments numerous times and shelled out thousands of dollars in security deposits, we firmly believe it's high time to digitalize and modernize this entire system.

Hidden fees and tricky contracts? Not on our watch.

With Standby Deposits, everything is crystal clear and straightforward, so you're always in the know about what's happening. We hate surprises as much as you do.

A Win-Win for Residents and Properties

Residents get to move in faster while keeping their money in their pockets, and properties remain fully protected with the security of a Standby Deposit. It's a win-win all around.

Flexibility Meets Affordability

For residents, Standby Deposits can be as low as $4 a month, and for properties, there's no cost at all to accept them. It's a budget-friendly solution for everyone involved.

Interested in learning about Standby Deposits?

Change the way people rent, while reaping all the benefits of lower vacancy, less hassle, happier residents and the same protection as cash.

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Never worry about security deposits again

Benefits for Owners & Operators

A Better Security Deposit Solution

What Residents Love

A New Way To Pay Security Deposits

A Seamless Move-In

Protected During the Lease

Straight Forward Move-Out

Welcome to the future of renting.

Why People Love Standby Deposits

Interested in learning about Standby Deposits?