DepositIQ Integrates With Tech Innovator On-Site.com

in Press Releases

Denver, CO (March 12, 2013) – DepositIQ, the smart alternative to security deposits for the apartment industry, has announced an integration solution with On-Site.com, the award-winning online leasing platform. The relationship strengthens DepositIQ’s position as an innovative deposit alternative provider and adds another element to On-Site’s technology stack. Both companies offer paperless solutions that improve the experience of renting an apartment, making the joint product a natural fit.

Once a property manager accepts a rental application and utilizes On-Site to conduct a background check, the user is presented with options for payment of the security deposit required prior to move-in. DepositIQ’s alternative to a cash deposit – a surety bond that costs a fraction of the traditional deposit but offers the same coverage in case of default – is automatically offered. The conditions of the bond offering are controlled by each community, and the renter pays the premium online and immediately receives the paperwork electronically, which can be completed on mobile devices and tablets as well. The interconnected solution saves processing time, lowers the overall cost of move-in for the renter, and ensures deposit policies are followed consistently. The option to buy the deposit alternative is automatically presented during On-Site’s online “shopping cart” functionality in which renters can select, qualify for and pay for an available apartment. The application is designed to work on mobile devices and tablets as well.

DepositIQ’s president and founder Tom Schickel is breathing new energy into the risk management space by developing a highly efficient and effective product. “We are very pleased to collaborate with On-Site since both companies pride themselves on employing technology to enhance usability and benefit our clients by simplifying vital leasing tasks,” he stated. DepositIQ is leveraging the relationship to expand its market share across a variety of portfolios including conventional, student, military, luxury and affordable communities.

About DepositIQ, LLC:

DepositIQ offers surety bonds in the place of standard cash deposits for the multifamily housing industry. Branded as “the smart alternative to deposits” the product utilizes e-signature and e-payment technology to streamline the purchasing of bonds and a real-time report dashboard to provide crucial insight into clients’ deposit policies and bond premium pools. DepositIQ was developed to work with all types of properties including market rate, student, affordable, military, and senior housing and can be utilized entirely online or via mobile and tablet platforms. Available nationwide, DepositIQ allows operators and owners to remain competitive in their respective markets by offering a lower cost move-in option, increasing closing ratios, and controlling bad debt issues. For more information visit www.depositiq.com.

About On-Site.com:

On-Site is teaching the apartment industry something Apple and Google learned years ago: usability is king. We’re bringing the industry up-to-speed with what today’s consumer expects from an online experience. Conveniently and securely, we allow today’s renter to find an available apartment, qualify, pay and e-sign. Our 100% paperless listing-to-lease platform encompasses marketing, lead generation, risk mitigation, document storage, mobile solutions and cloud computing services. Founded in 1999, On‑Site has been voted Best Resident Screening Service three years in a row and our paperless office platform was a finalist in the First Annual Green Initiatives Awards from Multi-Housing News.

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