WHAT IS FEDERAL ALLIANCE BILLING AGREEMENT?
Federal Alliance Billing Agreement is legally binding and differs from traditional deposits by allowing tenants to keep their security deposit and in return, the tenants pay a low monthly fee, and if the landlord makes a claim, Federal Alliance will pay the amount of the agreed-upon security deposit upfront to the landlord. Tenants will provide more then one billing authorization method which is a bank account and credit card. No Debit Cards. Federal Alliance and the tenant will arrange a repayment schedule for the claim. With traditional security deposits, tenants have to pay a large sum of money upfront with no real reason to do so. Through this billing agreement, we set the billions of dollars stuck in security deposits free. The billing agreement cuts upfront costs and thus provides better access to living spaces. By extension, the FA billing agreement puts more money back in the pockets of tenants.
“We are trying to save for a home.”
“I don't have a guarantor.”
“We just arrived to the US and have no rental or credit history.”
“Landlords won’t accept me because of my taxable income.”
“I need support to continue my education and don't want to bother my relatives.”
“I don't qualify or make 40x the monthly rent.”