Apartment ownerGoldcor Capital Partners has partnered withLeaseLock to roll out the company's Zero Depositproduct across its portfolio of Sunbelt state properties. Zerodeposit is a lease insurance program that eliminates securitydeposits and deposit alternatives, like surety bonds. Goldcor plansto roll the product out across its portfolio and for newacquisitions as well.

"Like many apartment owners, we have seen an uptick infraudulent records from new move-ins that are brought to ourproperty management company," Nir Goldberg,managing partner at Goldcor, tells GlobeSt.com. "While ourunderwriting process is appropriate, we wanted an additional way toprotect against that. We have looked at other lease protectioncompanies in the past, however, those companies didn't yield theresults that we wanted."

When looking for an insurance company, Goldcor found mostlysurety bonds. "On most other programs that we looked at, there hadto be a pool that the property had to build up to cover thedamages," says Goldberg. Many times when you are paying the amountsthat we looked at, it could take a number of good residents to payfor the damages of one bad tenant. This is quite different. Itallows you to take advantage of a larger platform and there is nopool that needs to be built up before you can recoup damages orlost rent.