Bob continues a series of podcast episodes dedicated to the topic of security deposits. For most landlords, security deposits continue to be a highly challenging aspect of leasing rental properties. Laws are changing, tenant move-in costs can be prohibitive, and security deposit deductions can often lead to conflict. Bob discusses these challenges with Derek Merrill, Co-founder and CEO at LeaseLock, a company promising to eliminate the need for security deposits.
[2:20] Introduction to Derek Merrill, LeaseLock and the concept of "zero deposits" through their Lease Insurance products.
[8:00] Landlord/tenant laws having an impact on alternative approaches to security deposits..
[12:00] Are flexible financial aspects of leasing here to stay due to COVID-19 pandemic?
[16:15] Derek explains the competitive differentiation of Lease Insurance when compared to surety bonds and other solutions.
[21:00] The process of filing claims through LeaseLock is discussed as opposed to deducting charges from security deposits.
[24:35] Derek describes a full scenario of how Lease Insurance works from start to finish during the course of a tenant's lease.
[34:00] Derek shares a story about the mission for LeaseLock and the positive impact they are having on tenants who are in need of financial assistance in obtaining a rental property.
[37:40] Final words on what the new generation will demand in terms of the speed and ease of leasing a rental property.
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