Bankers Financial Launches RentersAmerica, the Next Generation of Security Deposit Alternatives for Multifamily Property Owners and Managers
- Mar 04, 2013
St. Petersburg, Fla.—Bankers Financial Corporation has introduced RentersAmerica, a new security deposit alternative program designed to help multifamily property owners and managers reduce their bad debt, generate ancillary revenue and lease more units. The company, which pioneered the security deposit industry in 1995, developed RentersAmerica as a resident membership association that also benefits residents by dramatically lowering their move-in cash requirements while affording them opportunities to save on a wide variety of products and services through a rewards loyalty program.
For property owners and managers, RentersAmerica:
- Reduces bad debt through funds generated from all its residents/members
- Increases occupancy and improves resident retention because they can market their communities more aggressively to prospective residents by offering the option to lower their move-in cash requirement
- Increases ancillary revenue through marketing fees and excess funds not used to pay move-out debt that remains in their disbursement account
- Limits costs associated with the administration of traditional security deposits and collections
- Provides exceptional reporting inclusive of detailed or summary information from the community level to the executive level at a moment’s notice
- Provides the program without cost to the property or community
For the resident, RentersAmerica:
- Reduces the move-in cash requirements as residents pay a nonrefundable membership fee which is much less than the traditional security deposit
- Frees up cash which allows residents to use that extra money for other expenses when they need it most
- Provides a meaningful rewards program which offers discounts, coupons and special members pricing for goods and services at over 300,000 national and local providers. Used just once or twice a week, earning $1.00-$2.00 in savings at a time can easily offset or exceed the cost of membership.