Glossary

Renters Insurance

​Renters insurance is a policy that protects tenants by covering personal property losses from events like theft, fire, and certain water damages. It also provides liability coverage for injuries occurring within the rented property and may cover additional living expenses if the rental becomes uninhabitable due to a covered event. ​

Rent Rewards

​Rent rewards programs are incentive systems designed to benefit tenants by offering rewards, discounts, or financial perks for actions such as timely rent payments or lease renewals. These programs aim to enhance tenant satisfaction and loyalty while encouraging positive rental behaviors. ​

Rent Reporting

​Rent reporting involves the regular submission of a tenant’s rent payment history to one or more major credit bureaus for inclusion in their credit reports. This process can help tenants build or improve their credit scores by demonstrating a consistent payment history. ​

Security Deposits

​A security deposit is a sum of money paid by a tenant to a landlord before moving into a rental property, serving as financial protection against potential damages or unpaid rent. This deposit is typically refundable at the end of the lease term, provided the tenant has met all lease obligations and left the property in good condition. ​