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Explore Zencorr Properties
Elevating Your Apartment Living Experience!
GET INTO AN APARTMENT
FOR LESS
Coming up with the Security Deposit is a major financial hurdle, but not anymore!
Keep your cash!
Get into your new apartment with a security deposit as low as $250.
Program Details
Here's how the Program works. Instead of a paying full month’s security deposit, just pay a reduced security deposit as low as $250, plus a small recurring monthly FEE.
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The monthly FEE is the cost to buy-down your security deposit obligation.
You Decide!
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How much is the Monthly Fee?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.
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Is there an enrollment fee?No. That is one of the benfits of this program.
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Can anyone participate in this program?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.
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How do I pay the recurring monthly fee?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.
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If I damage the apartment, does the monthly fee go towards that?No. The monthly fee is the cost to buy-down your security deposit obligation.
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Won't this program end up costing me more over-time vs. just paying the full security deposit upfront?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.
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What if I decide to pay the full security deposit at Lease signing, could I opt-in to this program later?No. Unfortunately, there will not be another opportunity to enroll into this program. It must be done before you sign the Lease.
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What if I return the apartment with some damages?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.
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If I return the apartment WITHOUT any damages will I get my Security Deposit back?Yes, minus any unpaid charges and final utilities.
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What if I owe more than my security deposit?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.
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How do I "Opt-Out" of this program?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.
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If I opt out, do I get any of the monthly fee back?No. The monthly fee is the cost to buy-down your security deposit and it is non-refundable.
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What if when I vacate I owe more than the security deposit and never pay it?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.
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What if I decide to transfer to another apartment at the end of my Lease?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.
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Who is Zencorr?Zencorr is the property management company for Center Square Apartments.
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