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Greenlight Rent Product Overview

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Security Deposit Alternative

The Security Deposit Alternative is Greenlight Rent's alternative to a traditional cash security deposit. Instead of paying a lump sum deposit to the property, renters purchase a policy and pay premiums.

The policy protects the property owner against unpaid rent and property damage — the same way a traditional security deposit would. However, unlike a cash deposit, premiums are not returned at the end of the lease, and the renter is responsible for reimbursing Greenlight Rent for any claim amounts paid out on their behalf.

Coverage is only provided for the term specified on the policy. Renters must renew their policy to maintain continuous coverage.

Partners are not paid directly. To recover losses for unpaid rent or property damage, a claim must be filed on the policy.

Greenlight Guarantee

Greenlight Guarantee is designed for applicants who do not qualify for a standard security deposit. If an applicant is denied, conditionally approved, or has limited or no credit history, they may be eligible to apply for a Greenlight Guarantee policy through Greenlight Rent.

This product provides an approval path for renters who may otherwise require a co-signer or additional support to secure housing.

Cash Security Deposit

The Cash Security Deposit option allows renters to pay their security deposit directly through the Greenlight Rent platform. Renters can also track their deposit and any withholdings made by the property at the end of the lease, if the funds are held by Greenlight Rent.

Payment Deposits can be paid via ACH transfer, check, Google Pay, Apple Pay, or debit/credit card. Cash deposits typically take 3–5 business days to process. Payments made by check may take up to 14 business days to process.

End of Lease At the end of the lease, renters will be able to see if any amounts were withheld for damages, unpaid rent, or fees pursuant to the lease agreement, if held by Greenlight Rent. If no amount is withheld, the full deposit will be returned to the renter's account.

Additional products:

Renters Insurance

Greenlight Rent + Jetty partners with the following providers to offer renters insurance to your residents. Greenlight Rent + Jetty does not service these policies — for any questions about coverage, billing, or claims, residents must contact their insurance provider directly.

  • Cover Genius (XCover)
  • Lemonade
    • Residents can reach out via email or phone:

Loss of Employment Insurance

Greenlight Rent + Jetty partners with MIC Global to offer Loss of Employment Protection. These policies are designed to help renters stay on top of rent payments if they unexpectedly lose their job through no fault of their own. For more information, renters can contact MIC Global directly.

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