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How does a Surety Bond affect my held Security Deposits?

The total amount in Security Deposits for your property will be listed as $0 on your Monthly Statement and Owner Portal.

When your qualifying Resident chooses to purchase a Surety Bond in lieu of a traditional security deposit, the total amount in Security Deposits for your property will be listed as $0 on your Monthly Statement and Owner Portal.

 

If a claim is required to be filed due to damage or other charges being unpaid by the Resident, we file the claim with the Insurance Carrier backing the Surety Bond, and we typically receive the claim proceeds within 15-30 days of initiating the claim.