Help on Accumulating Security Deposits

Renters who can’t come up with hefty security deposits required by most property managers at move-in time now have an alternative. It’s called Deposit Saver, and registration is available online.

Rather than paying an upfront security deposit, usually equal to one month’s rent, Deposit Saver allows renters to pay a monthly fee of roughly $20, greatly lowering their move-in costs.

Deposit Saver is administered by insurance brokerage firm Swett & Crawford, which sets the monthly fee according to the renter’s credit rating, the monthly rent amount, the condition of the apartment, whether the apartment is furnished and the number of pets living there.

Payments are automatically deducted from the renter’s checking or savings account, or charged to an authorized credit card account.

For more information on the Deposit Saver, check out their Web site at: https://www.depositsaver.com/about.html.