Rentable Selects Salisbury Bank and Trust as its First Banking Relationship for Automated Security Deposit Solution

Rentable is a Boston-based financial technology company that provides fast, secure, and compliant solutions to property managers and landlords for their handling of security deposits. Rentable clients reduce the burdensome tasks associated with collecting, administering and returning security deposits through a seamless front and back-end platform, with Salisbury Bank holding these deposits.

Recommended AI News: Synopsys Completes the Acquisition of the Semiconductor and Flat Panel Display Solutions from BISTel

“The Rentable team has recognized inefficiencies in the current rental security deposit process and have developed a modern platform that enhances the experience for landlords and tenants alike”

Rentable’s innovative solutions assist landlords, property managers, and leasing agents/brokers with security deposit-related compliance obligations, including but not limited to, proper account openings, delivery of receipts and statements, annual interest remittance, and timely deposit returns. In addition, Rentable mitigates security deposit related disputes between tenants and landlords through their innovative inspection application. This feature allows transparency for all parties and allows both landlords and tenants to track damages that may occur during the term of the lease.

“The Rentable team has recognized inefficiencies in the current rental security deposit process and have developed a modern platform that enhances the experience for landlords and tenants alike,” said Rick Cantele, Salisbury Bank’s President and CEO.

“We’re extremely excited to be working with Rick and the team at Salisbury Bank,” said Alex Kamisher, Co-Founder of Rentable. “As our first bank partner, Salisbury brings an extensive presence in the Northeast and a willingness to innovate with technology for the benefit of our clients. Salisbury Bank provides our clients with the security and trust of a regional financial institution that is critical as we expand throughout New England and into other markets.”

Recommended AI News: Ekinops Obtains Microsoft Teams Certification for its SBC Solutions