Security Deposit Waiver Program

Ask your agent if your property qualifies for this program under Pledge Property Management, Inc.

Lower Your Upfront Move-in Costs

Tenants may qualify for this program with no additional application or credit screening. Pledge PM will use the average credit score on the application to price out the monthly fee in place of the security deposit.

Program Fees

This is a voluntary fee waiver program where a one-time fee of $200, plus a low-recurring monthly fee is paid with the rent, instead of paying a traditional 1-2 month security deposit.

Low Monthly Fee Due with the Rent Each Month

 

Avg Credit Score         Monthly Fee X Security Deposit
800 – 850.....................................1.00%
775 - 799......................................1.25%
750 - 774………………………............1.50%
700 – 749…………………...............1.75%
650 – 699....................................2.00%
600 – 649....................................2.50%
550 - 599....................................5.00%
500 – 549....................................7.50%

Details

• Monthly waiver fee is not a security deposit, is not insurance, and will not be refunded to the Tenant at the end of the tenancy. This will be also outlined in the lease.

• Tenant remains responsible for the full amount of any and all damage to the Property exceeding normal wear and tear and any unpaid rent, utilities, or any other lawful amount owed at the time of move out as per Connecticut law.

• Any amount left owing to the Landlord at the end of the tenancy is Tenant’s full responsibility

• Should any damages or other amounts owed to Landlord exceed the maximum coverage amount as provided by the Program, the Tenant shall remain responsible for reimbursement of any such excess amounts directly to the Landlord.

• For the next steps or if you have additional questions, please speak to the leasing agent prior to signing your lease.