Changing Tides: Why Multifamily is Moving Away from Surety Bonds

by Marlena DeFalco

Security deposits have long been an albatross around the apartment industry, burdening both residents and operators. “Frankly, the security deposit is a thing of the past,” explains Mark Stringer, vice president at Avenue5.

For operators, security deposits are a major administrative hassle, and often provide inadequate defense against rent loss and damages—a challenge which has been exacerbated by economic uncertainty during the COVID-19 pandemic.

To read the entire article, click the link to the Multifamily Executive website.

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