Rental escrow provides a secure mechanism for letting property or assets, protecting consumers from rental scams and offering agents and owners an assurance that their perspective clients have the necessary funds while safe guarding rental deposits.
Use rental escrow to hold deposits and rental fees in trust for any type of rental transaction from property letting to asset rental and holiday accommodation bookings.
How rental escrow is used
Rental escrow shows ability and intent. Agents are motivated to assist prospective clients whose deposit is guaranteed through escrow.
Secured rentals allow businesses and foreigners to lease property on a secured payment basis. The lessee deposits rental fees and the lessor secures payment for the rental property a number of months in advance. The E-Escrow system manages rent payment disbursement, account topup alerts, deposit payout management etc.
Property rental deposit management
E-Escrow takes the risk of managing rental deposits on behalf of letting agents and clients.
Leasing or letting a jar, jetski or jackhammer? E-Escrow secures the asset on behalf of the lessee and offers rental insurance to the lessor via a partner business.
E-Escrow allows you to define your own terms and conditions for the transaction. The terms specified in an escrow transaction are very important as they will most likely determine the outcome of the mediation in the event of a dispute.
The E-Escrow process for letting and rentals
Start a secure transaction
Specify letting details
Create transaction terms
Agree the transaction terms
The tenant transfers the transaction value to Envisionit E-Escrow
The tenant approves payment to the landlord
At the end of the term the landlord releases rental minus damages
Envisionit E-Escrow releases payment to the landlord and / or agent upon instruction
E-Escrow fees for rental transactions
E-Escrow charges a fee for securing your transaction. The E-Escrow fee is deducted from the funds in trust and is either payable by one or a combination of the parties. For example, the parties may decide that the buyer, seller or agent will pay the E-Escrow fees or the E-Escrow fee may be split between the parties. You can find a detailed explanation of our fee structure here.