The Problem: When Deposits Become Barriers
The Orlando, Florida market faced a brutal reality in late 2023: softening rents and high supply forced many property owners to offer deep concessions.
For luxury Class A communities like Millennium MetroWest, traditional security deposit barriers only intensified the challenge, dramatically slowing down leasing velocity when stabilizing occupancy was most critical.
The takeaway? Continuing rent cuts wasn’t the answer. They needed a smart, strategic tool that accelerates leasing by easing the financial burden on renters while ensuring the asset is protected.
The Strategy: Replacing Financial Friction with Protection
Millennium MetroWest implemented Leap Deposit Replacement directly into their leasing workflow. This strategic shift instantly delivered three critical wins for their housing portfolio management:
- Improved Leasing Experience – Eliminated the friction of large, upfront security deposits, resulting in a faster, better overall move-in experience.
- Accessibility for Renters – Empowered renters, including first-generation applicants and local hospitality workers, to move in with a low monthly fee instead of a major upfront cost.
- Risk Protection for the Asset – Provided the property with a guaranteed insurance-backed policy to protect against renter default and damages.
The Results: The Power of Insurtech ROI
Leap Deposit Replacement quickly transformed the property’s performance, turning a rental market challenge into a definitive financial advantage:
The results speak volumes. Just ask Millennium MetroWest:
“Leap Deposit Replacement has been a game changer for Millennium MetroWest. By removing the upfront deposit barrier, we accelerated leasing velocity, stabilized occupancy against market pressures, and protected our revenue, all while offering renters a move-in experience that meets their financial needs.”
— Michael Reed – CAM, ARM, Millennium MetroWest
This partnership confirms that the best defense against a challenging rental market is a strategic offense. Using Leap Deposit Replacement can turn a financial roadblock into a powerful competitive leasing tool.
We are the smart solution for owner-operators and property managers looking to drive revenue and stabilize their housing portfolios.
Ready to take the Leap?
Contact us today to learn how Leap Deposit Replacement can accelerate your leasing velocity.
