MicroBilt, a leader in risk management information for small and medium-sized businesses, announces its SmartDep Security Deposit Replacement program
, which provides accidental damage and skipped rent protection for landlords and tenants. SmartDep is offered through MicroBilt’s Renter Report Card tenant screening
New tenants are typically required to make a significant payment upfront as a security deposit prior to move-in to protect the landlord against damage to the apartment and unpaid rent. In some states, the security deposit can be as much as two months rent. SmartDep replaces the security deposit with annual protection of up to $3,000 for damages and $1,500 for skipped rent. Pet Protection can also be included. SmartDep gives landlords peace of mind without the heavy burden on tenants of a large security deposit.
"Tenants and landlords can agree on one thingthey don’t like Security Deposits. The Tenant has to tie up a large sum of money for years. The Landlord has jump through hoops to use the Security Deposit for legitimate damagesand always under the threat of being sued," offers Brian Bradley, EVP Strategy and Emerging Markets with MicroBilt. "Our SmartDep product is truly a unique program and our customers are buzzing about it. SmartDep replaces the security deposit and protects both the Landlord and the Tenant. SmartDep is offered through our Renter Report CardTM Tenant Screen, so the Landlord gets the added protection of a comprehensive background check on each tenant."
Every SmartDep transaction starts with the MicroBilt Renter Report Card. The Renter Report Card screens a prospective tenant for the program and be customized to include a landlord’s rental criteria. The Renter Report Card includes the prospective tenant’s PRBC® Consumer Report with FICO® Expansion® Score
, a traditional credit report with FICO® Score, MicroBilt’s enhanced Evictions Report
, a national Sex Offender and International Watchlist search
and other advanced anti-fraud and identity verification tools
The SmartDep Security Deposit Replacement program is available through MicroBilt.com and through MicroBilt’s hundreds of distributors and sales agents.
MicroBilt is the leader in serving small businesses with data and tools that they need to manage business risk and make informed lending and hiring decisions. MicroBilt offers the small business owner simple, cost-effective solutions for fraud prevention, consumer financing, debt collection, and background screening. With its PRBC® Consumer Report with the FICO® Expansion® Score, MicroBilt is the leading provider of alternative credit data to businesses that want to offer credit and other financial services to the over 100 million underserved consumers in the United States. For more information, visit www.MicroBilt.com