Unique Low Cost and Insured Rental Deposit | No cash disbursement! | One-Off & All-in Fee! | New business for life insurers
DepositPass converts a fraction of a tenant‘s life insurance into a rental deposit in 3 steps.
- 1st Tenant or 3rd party assigns defined amount of his/her savings policy in favour of landlord.
- 2nd DepositPass in exchange issues Rental Deposit in favor of landlord.
- 3rd Landlord delivers keys to tenant.
Uniqueness of the project
Ryanair of rental deposits
Use of pledge (assignment) of life insurance-savings policies by tenants in favor of landlords to guarantee obligations under tenancy agreement charging one-off & all-in fee independently from term of tenancy agreement. Other rental deposits - banks & insurers - charge fees & premiums regularly and yearly during whole term of tenancy agreement.
Underwriting process, credit assessment and/or risk scoring are not necessary making DepositPass technically very simple.