In lieu of the security deposit, Owner offers to waive the one-time security deposit in exchange for the payment of the monthly service charge indicated above for the Full Duration of the Rental Agreement. In the event the Property Management contract between Owner and Agent is terminated, the monthly fee referenced herein will cease and the Property Owner may require that you pay a traditional security deposit. If Tenant(s) choose to pay the Zero Deposit Program monthly cost in lieu of the advertised property deposit, Tenant(s) agree and understand the following:

The monthly amount paid does NOT accumulate or IS NOT in any way considered or related to a security deposit.

Tenant(s) understand that the monthly amount paid is a convenience service that allows them to move their costs from the front of the tenancy to the end of the tenancy, and will need to pay non-normal wear move out costs upon vacancy.

Tenant(s) understands that carpets will be professionally cleaned upon Rental Agreement Termination and charged to Tenant’s rental account.

Tenant(s) understands that other than carpet cleaning, property MUST be left in move-in ready rental condition as decided by Agent. Move-in condition means equal to the condition of the property at time of Key Transfer, normal wear and tear accepted.

Tenant(s) understand that if property is not left in move-in ready condition, all non-normal wear costs associated with making it equal to move-in ready condition will be charged to Tenant’s rental account, including examples such as general cleaning, flooring repair or replacement, wall repair and painting in excess of normal wear and tear, key or lock replacement, non working light bulb replacement, dirty furnace filter replacement, general repair in excess of normal wear and tear, landscaping cleanup, hauling of abandoned property, in addition to any unpaid rent, charges, or fees left unpaid on Tenant’s Account.

Tenant(s) understand that within 30 days of the Termination of Rental Agreement, a Final Account Statement will be produced and emailed and physically mailed to the Tenant’s forward address if one is provided.

Tenant(s) understand that within 7 days of the sending of the emailed and mailed Final Account Statement, Tenant MUST pay amount owed on Final Account Statement. If full account balance is not paid, account will be assigned to a professional debt collection agency.