Campbell, Calif. – On-Site.com today announced a partnership with DepositIQ to integrate the latter company’s cashless surety bond into On-Site’s online leasing suite. With DepositIQ’s technology in place, renters can now go from listing to lease in one streamlined process without having to complete a pen and paper form or submit a cash payment. The relationship strengthens DepositIQ’s position as the apartment industry’s premiere deposit alternative provider and adds another valuable element to On-Site’s already full-featured leasing platform.
The tech innovators both offer paperless solutions that streamline the leasing process, making the combination of products a natural fit. “We are very pleased to collaborate with On-Site since both companies pride themselves on employing technology to enhance usability and benefit our clients by simplifying vital leasing tasks,” said DepositIQ president and founder Tom Schickel.
The combined products allow property managers to process an online rental application, qualify and approve the applicant and then present the new resident with options for payment of the pre-move in security deposit—all of which can be completed without having to leave the On-Site framework. In lieu of a traditional cash deposit, the resident is automatically offered DepositIQ’s cash deposit alternative, a surety bond that costs a fraction of the traditional deposit, but offers the same coverage in case of default. The conditions of the bond offering are controlled by each community, and the renter pays the premium online and immediately receives the paperwork electronically. The paperwork can then be executed as part of the standard lease package using On-Site’s E-Sign™ electronic signature technology.
Both companies understand the importance of mobile optimization in respect to the new generation of millennial renters who favor smart phones and tablets over desktops for completing tasks online. Accordingly, the entire process can be completed on a mobile device.
The interconnected, mobile optimized solution saves processing time, lowers the overall cost of move-in for the renter, and ensures deposit policies are followed consistently.
On-Site is teaching the apartment industry something Apple and Google learned years ago: usability is king. We’re bringing the industry up to speed with what today’s consumer expects from an online experience. Conveniently and securely, we allow today’s renter to find an available apartment, qualify, pay and e-sign. Our 100% paperless listing-to-lease platform encompasses marketing, lead generation, risk mitigation, document storage, mobile solutions and cloud computing services. Founded in 1999, On-Site has been voted Best Resident Screening Service three years in a row and our paperless office platform was a finalist in the First Annual Green Initiatives Awards from Multi-Housing News.
About DepositIQ, LLC
DepositIQ offers surety bonds in the place of standard cash deposits for the multifamily housing industry. Branded as “the smart alternative to deposits” the product utilizes e-signature and e-payment technology to streamline the purchasing of bonds and a real-time report dashboard to provide crucial insight into clients’ deposit policies and bond premium pools. DepositIQ was developed to work with all types of properties including market rate, student, affordable, military, and senior housing and can be utilized entirely online or via mobile and tablet platforms. Available nationwide, DepositIQ allows operators and owners to remain competitive in their respective markets by offering a lower cost move-in option, increasing closing ratios, and controlling bad debt issues. For more information visit www.depositiq.com.