The Death of Deposits? Rethinking Risk and Resident Experience
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The Death of Deposits? Rethinking Risk and Resident Experience
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Episode 14: The Death of Deposits? Rethinking Risk and Resident Experience
Guest: Michael Bowman, CEO of Deposit Cloud
What started as a cash cushion to protect landlords has become a compliance risk, a resident pain point, and a branding liability. So why is multifamily still relying on deposits?
🔥 In this episode:
- Why Michael Bowman founded Deposit Cloud
- The financial reality of $300 deposits and $600 move-out charges
- Legislative chaos—from Texas to Florida to Cook County, IL
- Class action lawsuits tied to security deposits
- The opportunity to turn move-out into a loyalty moment
- Why automation without oversight creates new blind spots
- Reimagining deposits not as a protection tool, but a CX moment
📎 Resources:
- https://depositcloud.com
- Michael Bowman on LinkedIn
Learn more at ApartmentJedi.com
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