Incentivize Renewals By Returning Deposits
Boost retention rates and minimize the cost of concessions.
A Simple & Powerful Renewal Perk
Stevens Realty is now incentivizing renewals by offering the return of security deposits back to the tenants at the point of renewal. You as the Owner will stay protected with this program by returning the security deposit to the owner, we will obtain a billing authorization for an amount up to 20% higher than the original deposit.
Keep Your Renters Engage
Leverage integrated automation to engage your renters and start influencing their decision when it matters most.
A Data-Backed Approach
Nationwide renters surveys show higher renewals rated when landlords return security deposits.
Reduce Vacancies & Renewal Ratio
Returning deposits has a strong effect on renewals than a 3% concession on annual rent.
Reduce Turnover Costs by Increasing Retentions
Keeping your tenant happy by returning their deposit and obtaining a billing authorization for up to 20% higher than the original deposit amount, forget about having to turnover the property to rent it again.
Stevens Realty Lease Renewal Incentive
Avoid rent concessions. Incentivize your renters to renew their lease by returning their deposit at renewal.
How Does It Work?
Whenever it’s time for renewal, we will offer the option to the tenant to ask for a security deposit refund and instead provide a billing authorization that will cover for up to 20% higher than the original deposit.
Step 1
Whenever it’s time for renewal, we will offer the option to the tenant to ask for a security deposit refund and instead provide a billing authorization that will cover for up to 20% higher than the original deposit.
Step 2
Once they have opted in, and their Obligo billing auth has been approved, we will return their security deposit and increase your damage coverage accordingly.
Step 3
Funds are 100% guaranteed from Obligo even if the tenants billing authorization fails afterwards, your tenant will be happy and will renew their lease.