Managing security deposits can be complex and time-consuming. Roost Full Deposit Management streamlines the entire process—from payment and banking to refunds—saving your staff valuable time and allowing them to focus on higher-value tasks.
Residents can choose from multiple payment options and share payments with roommates. Roost posts payments to the ledger and notifies your team, with fraud protection, NSF shield, and charge-back management included.
Banking options include FBO accounts and escrow for your property.
Our SmartCompliance process reviews your property by jurisdiction to advise you on process including payments, holding/co-mingling, interest regulation, notification requirements and more helping you stay compliant. Automatic notifications keep your team updated on refund deadlines.
Empower residents to track their refund and interest details with ease, and choose the fastest refund option, including split payments. This not only improves their cash flow and financial well-being but also simplifies the deposit process for property managers, leading to higher resident satisfaction.
Flexible service configuration by property
We understand that different properties require different processes. At Roost, you can customize services to meet your specific needs. From deposit hold management and banking to interest accrual, 1099 issuance, unapplied credit payouts, and integrating with security deposit alternatives, we've got you covered.
Support beyond the refund
Refund automation means we handle all the details for you—resident inquiries, lost or uncashed checks, stopped payments and address changes. With Roost, you're in good hands—we take care of it all.
How Roost Full Deposit Management works
1
Payment
Roost notifies and collects refundable deposits, including security, pet, and more. Residents have flexible payment options. All payments post to the resident ledger.
2
Banking
Funds are held in an FBO account on your behalf, in-state as required. Escrow and trust account options available.
3
Interest management
Roost manages interest accrual and payouts for you and your residents.
4
Refund processing
Refunds are automatically processed and paid out by resident preference. Roost closes the invoice, posting payments to your ledger.
5
Reconciliation and reporting
Detailed deposit reconciliation reports enable you to tie out beginning and ending month balances and all transaction details. Bank statements are also available.
The Roost Refund Guarantee
If a refund is ever late due to our error or oversight, we cover the cost.
