WHY DO WE OFFER JETTY?
- Jetty is a security deposit alternative that provides future residents with an option to pay a lower, non-refundable amount.
at move-in versus a higher, refundable security deposit. - Future residents who elect the Jetty option pay Jetty directly, which reduces the amount that is owed directly to the community.
- If the resident moves out with a balance, Jetty covers the amount up to the full amount of the deposit.
HOW DOES MY APPLICANT APPLY FOR JETTY?
- Applicant applies with Morgan Properties and goes through screening.
- Jetty integrates with Yardi and can see the applicant who was screened and the screening result.
- Jetty sends an email to the applicant the morning after the screening result was returned with a unique link for the applicant to use to apply for Jetty (applicants should wait to sign up until final approval of the application).
- If the applicant does not receive the email, have them check their spam. If they still don’t have the email or it’s an immediate move in, they can visit www.jetty.com/morgan to receive their unique link.
- Jetty does a soft credit check on the applicant and provides the option of a one-time payment to Jetty or a smaller monthly payment.
WHAT DO I NEED TO KNOW/DO?
- If there are multiple people in the apartment, only one person must apply for the Jetty bond.
- The approved applicant must provide proof of a purchased bond or let you know they will pay a security deposit prior to lease generation.
- Make sure the lease has the correct information listed for the security deposit ($0 if they purchased Jetty or an amount if they paid the deposit to the community).
- If Jetty was purchased, ensure the bond was uploaded as an attachment into the resident profile
- If Jetty was purchased, the policy number and amount will populate in Yardi/CRM in the Future Resident Profile → Other Info → Security Dep Alt
- A Surety Bond Addendum is now included in the lease packet, and everyone must sign regardless of whether they chose Jetty
- If the future resident paid a deposit, make sure that amount is entered into the security deposit field in their move-in charges when processing the move-in in Yardi/CRM
- A Jetty bond remains in place at renewal. If a resident is making monthly payments to Jetty, the original payment amount continues through their residency (the one-time payment is not collected again).
- When residents transfer within the community, the Jetty bond remains in place and transfers with them. If the rent amount is different for the new apartment the resident must contact Jetty directly to amend the bond.
- NOTE: The bond stays with the person who purchased it. If roommates separate or the person who purchased the bond moves out, the person remaining in the apartment must either purchase a Jetty bond or pay a deposit (proof of bond or payment of deposit is required before approving the roommate release).
- If the resident moves out with a balance, the Morgan Properties Collections Department will file a claim with Jetty for the balance and will work their regular collections process for any monies owed above that amount
- Questions? Contact Jetty directly at partners@jetty.com or 1-855-MYJETTY for assistance.
IMPORTANT:
NEVER give keys to the apartment until you have verified the future resident paid for a Jetty bond OR you have collected a security deposit.