Apartment property managers might feel that security deposits are a nuisance. And, sometimes they might find them to be an occasional deal breaker. For property managers who would rather make the process disappear, DepositSaver could be the answer. Instead of paying a lump-sum security deposit, tenants who sign up with DepositSaver make small monthly payments to the landlord who is protected by insurance should the tenant skip town or damage the apartment before paying the entire security deposit. "It's a fully automated process," said Mark DiCamaillo, vice president of marketing. "We collect the fees and if the renter has a banking facility we can debit their accounts, or if not, we can debit their credit card each month. There is a one-time fee of $100 to the apartment owner when they first sign up for the program that binds the policy. There has to be some kind of financial consideration in order for the insurance to be in force." That one-time fee covers the owner's portfolio and the units are insured as they are rented. "The main benefits for a property manager is that DepositSaver is a great marketing tool. It allows them to offer units with no money to move in, and since security deposit laws vary from state to state and municipality to municipality the program can be standardized for each property." DepositSaver can also be used as a retention tool. "If the renter is willing to sign up for an additional year, we'll refund their security deposit. Many consumers see that as a deal."