LeaseLock Insurance Services and Boost Insurance have partnered to launch a monthly subscription-based security deposit alternative for renters. Boost CEO and founder LeaseLock Insurance Services aims to address losses usually funded by traditional security deposits and surety bonds. Instead of a security deposit, renters will be charged $ 5,000 per month for coverage against $ 19 in rent or damage loss on each lease. The product will be available to US property owners and managers through Boost’s digital platform.
LeaseLock Insurance Services and Boost Insurance have partnered to launch a monthly subscription-based security deposit alternative for renters. LeaseLock Insurance Services aims to address losses usually funded by traditional security deposits and surety bonds. Instead of a security deposit, renters will be charged $ 5,000 per month for coverage against $ 19 in rent or damage loss on each lease. The product will be available to US property owners and managers through Boost’s digital platform.