Question 1

How much is the Monthly Fee?

Accepted Answer

The monthly fee is based on the amount of the security deposit you want to pay.

-$250 Security Deposit - The buy down monthly fee will be $45.00 for the first year, starting the 2nd year $30 per month, starting the 3rd year and years thereafter the fee is $15.

-$400 Security Deposit - The buy down monthly fee will be $35.00 for the first year, starting the 2nd year $25 per month, starting the 3rd year and years thereafter the fee is $15.

Question 2

Is there an enrollment fee?

Accepted Answer

No.    That is one of the benfits of this program.

Question 3

Can anyone participate in this program?

Accepted Answer

Yes and No.   
Yes, As long as your application is been approved, you are eligible to participate in the program.      
No, this program is only available to NEW Tenants only.    Existing Tenants are not eligible to participate in the program unless they are transferring to a NEW apartment.

Question 4

How do I pay the recurring monthly fee?

Accepted Answer

The monthly fee amount gets built directly in to your Lease, so you will pay it with your rent and any other monthly charges via  the Tenant Portal.

Question 5

If I damage the apartment, does the monthly fee go towards that?

Accepted Answer

No.  The monthly fee is the cost to buy-down your security deposit obligation.

Question 6

Won't this program end up costing me more over-time vs. just paying the full security deposit upfront?

Accepted Answer

That depends on how long you stay.   The goal of this program is to avoid having to pay large security deposits up front and tying up your hard earned cash.     The program is flexible so you can opt out of it at anytime by paying the security deposit if your plan is to stay a resident long-term.

Question 7

What if I decide to pay the full security deposit at Lease signing, could I opt-in to this program later?

Accepted Answer

No.   Unfortunately, there will not be another opportunity to enroll into this program.    It must be done before you sign the Lease.

Question 8

What if I return the apartment with some damages?

Accepted Answer

You will be charged for damages on your final reconciliation.   The security deposit you paid will go towards that and if you owe a balance, then you will be obligated to pay it.

Question 9

If I return the apartment WITHOUT any damages will I get my Security Deposit back?

Accepted Answer

Yes, minus any unpaid charges and final utilities.

Question 10

What if I owe more than my security deposit?

Accepted Answer

After you move out, you will receive a final reconciliation of what you owe and you will have the obligation to pay the remaining balance.

Question 11

How do I "Opt-Out" of this program?

Accepted Answer

Very easily.      Just let your Property Manager know, complete some paperwork, and pay the full security deposit.     The amount of the security deposit equals your one month's rent.

Question 12

If I opt out, do I get any of the monthly fee back?

Accepted Answer

No.   The monthly fee is the cost to buy-down your security deposit and it is non-refundable.

Question 13

What if when I vacate I owe more than the security deposit and never pay it?

Accepted Answer

You would be referred to a collection agency.   
Also, your rental history with the management company is reported to credit bureaus and would be reflected on your future credit reporting.

Question 14

What if I decide to transfer to another apartment at the end of my Lease?

Accepted Answer

You will be able to remain in the program and the monthly fee for the NEW apartment will be calculated based on your total time residing at the property.

Question 15

Who is Zencorr?

Accepted Answer

Zencorr is the property management company for Center Square Apartments.

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Coming up with the Security Deposit is a major financial hurdle, but not anymore!

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Get into your new apartment with a security deposit as low as $250.

Program Details

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$250 Security Deposit

$400 Security Deposit

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