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Termwise replaces the traditional security deposit with affordable insurance coverage. Residents can opt for a low monthly payment, and enjoy the perks of deposit freedom.
Termwise provides insurance coverage to property managers, removing the need for a security deposit.
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Once Termwise is enabled, eligible new residents can opt in from their Findigs dashboard. The plan is activated when the lease begins.
The property is protected against losses by an insurance plan. Residents cover the plan's administrative fee each month.
As always, residents are responsible for damage beyond normal wear and tear. But this time, there's no refund to worry about.
Eligible residents can choose Termwise directly from Findigs. In just a few clicks, that hefty financial burden is lifted.
Property managers can easily file claims for unpaid damage or missed rent payments. Avoid refund disagreement and opt for transparency instead.
Insurance unlocks financial protection, without keeping funds where they can’t be used, saved, or invested to grow.
If your property manager offers Termwise, and you meet the Termwise eligibility criteria, you’ll see another step in your dashboard after approval. Here, you'll be able to choose between a traditional security deposit and a Termwise plan—we'll automatically notify the property of your selection. If you aren't sure whether Termwise is available, you can ask your property manager using the Findigs chat function or by contacting them directly.
Residents are always responsible for damage beyond reasonable wear and tear. Insurance coverage provides protection for the property manager in case these damages are not paid for in a timely fashion.
Yes, if the property manager has enabled Termwise as an option, eligible residents may switch from a regular deposit to a Termwise plan by getting in touch with their property manager.
Security deposit alternatives (or “SDAs”) are financial products that function in place of the traditional deposit transaction. SDAs come in many forms, but whether it’s a bond, installment plan, or insurance policy, they exist to offer upfront affordability and financial flexibility to renters, and reduce risk for the property.
New Findigs users can add Termwise to their suite of tools and offerings; simply get in touch with our team to learn more. If you're already using Findigs and wish to offer Termwise to residents, let your Customer Success Manager know and we’ll be happy to discuss onboarding details. Once Termwise is enabled, eligible residents will have a choice between Termwise or a traditional security deposit after approval.
