Simplifying Your Rental Journey

Welcome to Tenant Lending Co.

Experience a seamless rental process with our innovative solutions designed to ease your financial burden and enhance your peace of mind.

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About Tenant Lending Co.

Tenant Lending Co. (TLC) is dedicated to transforming the rental landscape by offering financial solutions that prioritize tenant convenience and trust. Our mission is to eliminate the stress of upfront rental deposits through fair and flexible lending options, ensuring tenants can move into their new homes with ease and confidence. By providing transparent terms and a commitment to returning deposits at the lease’s end, we empower renters to focus on what truly matters: creating a home.

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Our Services

Upfront Deposit Loans

Our upfront deposit loans allow tenants to secure their rental homes without the immediate financial strain of a large deposit. Enjoy the flexibility of repaying in manageable monthly installments.

Flexible Payment Plans

Choose from a range of payment options tailored to fit your budget, ensuring that your rental experience is as smooth and stress-free as possible.

Deposit Reimbursement

At the conclusion of your lease, receive your deposit back, not the landlord, reinforcing our commitment to tenant trust and satisfaction.

Fast Application Process

Our streamlined application process ensures quick approvals, so you can move into your new home without delay.

Explore Our Key Features

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Seamless Deposit Reimbursement

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Trust-Based Lending Solutions

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Rapid Application Process

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Flexible Payment Options

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Transparent Terms and Conditions

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Fair Interest Rates

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Easy Monthly Installments

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Return Guarantee at Lease End

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Convenient Online Access

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Supportive Customer Service

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Secure Transactions

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Empowering Rental Experience

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Reliable Tenant Support

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Modern Financial Solutions

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Hassle-Free Rental Process

FAQ

Frequently Asked Questions: Texas Lending Corporation Security Deposit Loan Program

1. What is the TLC Security Deposit Loan Program?

The TLC Security Deposit Loan Program allows tenants to pay their security deposit through a loan offered by Texas Lending Corporation (TLC), a regulated lender, licensed by the Texas Office of Consumer Credit Commissioner (OCCC) under license number 173094. This helps ease the upfront financial burden for tenants moving into our properties.

2. How do I apply for the security deposit loan?

You can apply to TDL for the loan through RentWerx’s RentFind portal. The application process involves a credit check and may require additional documentation to assess eligibility.

3. Are there any fees associated with the loan?

Yes, the loan may include certain fees such as origination fees, processing fees, or interest charges. All applicable fees will be detailed in the loan agreement provided by the lender.

4. What is the interest rate on the loan?

The interest rate is determined by the lender and will be disclosed to you upon application. It may vary based on your creditworthiness and other factors.

5. How do I repay the loan?

Repayment terms, including the schedule and payment amounts, will be outlined in your loan agreement. Typically, repayments are made in monthly installments over a nine month period.

6. What happens if I terminate my lease early or breach the terms?

If you terminate your lease early or breach the lease terms, you are still responsible for repaying the full amount of the loan, in accordance with the terms set forth in the loan agreement. The lender may pursue collection efforts in the event of non-payment.

7. Can I pay off the loan early?

Yes, you can choose to pay off the loan early without any prepayment penalties. Paying off the loan early can save you money on interest.

8. What happens at the end of my lease?

At the end of your lease, if you have complied with all lease terms, your security deposit will be refunded according to the lease agreement and Texas laws. If the deposit was funded by a TDL Loan, you should continue to make payments on the loan as required, independent of any deposit refund.

9. Who do I contact if I have questions about my loan?

For questions regarding your security deposit loan, please contact TLC directly. Their contact information will be provided in your loan agreement.

10. Can I still opt to pay my security deposit upfront instead of taking a loan?

Yes, you have the option to pay the security deposit upfront directly to us, without using the TLC loan program.

11. Are there any eligibility requirements for the loan?

Eligibility for the loan may depend on various criteria, including your credit history, income level, and rental history. The lender will evaluate these factors during the application process.

12. Is this loan available for all properties under your management?

The availability of the TLC Security Deposit Loan Program may vary by property. Please inquire with our management team to confirm eligibility for your specific unit.

13. Are there separate ledgers for rental payments and security deposit repayment?

Yes, there are two separate ledgers maintained for rental payments and security deposit repayment. This ensures clarity and accuracy in tracking each type of payment. Please ensure you reference the correct ledger when making or reviewing payments.

14. What happens if there are damages to the property at the end of the lease?

If there are damages to the property, the cost for repairs may be deducted from your security deposit, in accordance with the lease agreement and Texas laws. This is separate from the loan repayment, which must still be completed according to the terms agreed upon.

15. What if I have difficulty making a payment on my loan?

If you encounter difficulty making a payment, contact Texas Lending Corporation immediately to discuss your situation. They may offer options such as payment deferrals, adjustments, or alternative arrangements based on your circumstances.

16. Can I transfer my security deposit loan to a new property if I move?

Transferring the TLC Loan to a new property is generally not possible. A new application and a loan agreement would be required if you wish to obtain another loan for a security deposit at a different property.

17. How does the TLC program benefit tenants?

The TLC program benefits tenants by reducing the immediate financial burden of paying a large security deposit upfront, allowing for more flexibility in managing finances when moving into a new property.

18. Are there any late fees if I miss a loan repayment or rental payment?

Yes, if you miss a loan repayment, a late fee of $15 or 5% of the scheduled payment, whichever is less, will be applied. Additionally, late fees apply to rental payments as well; specific amounts and conditions for rental late fees are detailed in your lease agreement. It’s important to be aware of these fees and to contact Texas Lending Corporation or your RentWerx property management team as soon as possible if you anticipate difficulty in making payments.

19. Do my payments get reported to credit bureaus?

Yes. We report your on-time payments to major credit bureaus, which means paying on time can help build or improve your credit score. A positive payment history shows financial responsibility and may boost your chances for future loans, credit cards, or rental approvals—just another way we help you move forward financially

Ready to Simplify Your Rental Experience?

Click on the button below to see a list of rentals compatible with the Security Deposit Loan Program

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TIP: Calculate Your Amortization

By utilizing an amortization calculator, you can gain valuable insight into your potential monthly payments, allowing you to better understand your financial commitments before committing to a loan.

This tool can help you visualize how different loan terms and interest rates impact your budget, empowering you to make choices that align with your unique financial situation.

Take a moment to explore this resource and step confidently towards securing your new home with ease!

Clicking the button will open a pop-up from an external site https://www.calculatestuff.com/

Open Amortization Calculator