By contracting with Jack and Landlords, landlords receive a full month's rent guarantee for damages and unpaid rent. And best of all, tenants pay the cost for the landlords' protection over 12 equal monthly payments along with their rent each month. Why use Jack and Landlords:
The cost is just 65% of your tenant's 1st month's rent paid over 12 equal payments. After the twelfth payment, payments drop off and your guarantee stays effective until your tenant terminates their lease. Your guarantee covers up to the full amount of your tenant's 1st month's rent.
Payments are due when you receive your tenant's rent each month that includes the cost of the guarantee. Landlords complete their own addendum with tenants for adjusted rent to include guarantee cost. There is no due date each month.
Jack and Landlords Is The Landlord's Alternative Tenant Discount Finance Option to Security Deposits
I advise all my Landlord clients to not collect a security deposit.
As the ordinance now exists, Windy City landlords must pay two times the deposit and interest as well as cover any legal fees incurred by their tenants if the deposit repayment is off, sometimes by as little as one cent.