The program also includes a profit-sharing component that rewards properties with low claims. Bankers Insurance Group is taking a different approach with its Tenant Security Deposit Bond program. A resident purchases a bond in an amount required by the owner to replace the security deposit. The bond is a one-time payment, and although considerably more than the monthly insurance premium, it is less than the regular security deposit. The bond program is tailored to meet each property's needs, including the amount of coverage, and the percentage risk, if any, that is assumed by the property owner.
Owners also receive a small administrative fee for processing the policies.
Terry Feinberg is chief executive officer of the Tri-County Apartment Association. The information you receive on-line from Mercury Center is protected by the copyright laws of the United States. The copyright laws prohibit any copying, redistributing, retransmitting, or repurposing of any copyright-protected material.