Episode 41: Zero Deposit Leasing, Featuring Derek Merrill, CEO at LeaseLock

Jun 25, 2020

Ask episode

Chapters

Transcript

Episode notes

Bob continues a series of podcast episodes dedicated to the topic of security deposits. For most landlords, security deposits continue to be a highly challenging aspect of leasing rental properties. Laws are changing, tenant move-in costs can be prohibitive, and security deposit deductions can often lead to conflict. Bob discusses these challenges with Derek Merrill, Co-founder and CEO at LeaseLock, a company promising to eliminate the need for security deposits.

Topics Covered

[2:20] Introduction to Derek Merrill, LeaseLock and the concept of "zero deposits" through their Lease Insurance products.

[8:00] Landlord/tenant laws having an impact on alternative approaches to security deposits..

[12:00] Are flexible financial aspects of leasing here to stay due to COVID-19 pandemic?

[16:15] Derek explains the competitive differentiation of Lease Insurance when compared to surety bonds and other solutions.

[21:00] The process of filing claims through LeaseLock is discussed as opposed to deducting charges from security deposits.

[24:35] Derek describes a full scenario of how Lease Insurance works from start to finish during the course of a tenant's lease.

[34:00] Derek shares a story about the mission for LeaseLock and the positive impact they are having on tenants who are in need of financial assistance in obtaining a rental property.

[37:40] Final words on what the new generation will demand in terms of the speed and ease of leasing a rental property.

Connect with Derek Merrill
LeaseLock Website
Email: derek@leaselock.com

Connect with Bob
North County Property Group

Resources Mentioned
Square: You can do a lot with Square: accept credit cards, power your business with a free point-of-sale app, get real-time sales reports, and much more. All this with no sign-up costs or long-term contracts.Plus, your first $1,000 in credit card transactions are processed free when you sign up by clicking through on this link: Try Square for free today!

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts,

Connect with Bob Preston
https://www.propertymanagementbrainstorm.com/

This episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify, TuneIn, iHeart Radio and YouTube.