Property Manager · Indianapolis, IN · Member since 2024 · 45 posts · 24 votes
Hi! Has anyone used the Furnished Finder Worry Free Waiver? From what I understand, it's designed to replace a traditional security deposit. Our management company currently collects a traditional deposit from all tenants, including traveling healthcare professionals. I'm intrigued by the concept of this waiver but would love to hear from anyone who has experience with it.
I haven't used Furnished Finder's waiver but I've used similar services in the past. I collect both a security deposit and purchase a damage protection waiver. However, my portfolio is mostly B2B and the businesses I work with are comfortable paying the nonrefundable fee plus the refundable security deposit.
I haven't used Furnished Finder's waiver but I've used similar services in the past. I collect both a security deposit and purchase a damage protection waiver. However, my portfolio is mostly B2B and the businesses I work with are comfortable paying the nonrefundable fee plus the refundable security deposit.
Hi Sarah! We've been using Waivo, which is a very similar product to FF's Worry Free Waiver. We're currently using it as a replacement to security deposits but I'm considering bringing back deposits since there are certain costs that Waivo doesn't cover. Most importantly: theft, deep cleans, odor removal, stained linens. I like Jamie's idea of using both. The damage waiver is almost like a little insurance policy for damages that exceed the deposit.
If it's not an outright scam it is set up to take advantage of the landlord. I used it for the first time with my most recent renter, secured through Furnished Finder, and when my renter decided to stay beyond the inital two-month lease, Worry Fee Waiver asked specifically for a lease extension, not a new lease, indicating the switch to month-to-month. I supplied that and then they said they wouldn't extend the worry fee waiver because I hadn't provided a new lease. This, despite the fact that they charged me for the waiver -- the waiver that they denied - and they specifically asked for an extension. This now leaves me in the situation of having an excellent renter but no security deposit -- three months into his tenancy.