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.
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