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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

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

September 2, 2021 GMT

BOSTON--(BUSINESS WIRE)--Sep 2, 2021--

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.

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.

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“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.”

About Salisbury Bank
Salisbury Bank is a FDIC-insured community bank headquartered in Lakeville, Connecticut and presently operates full service branches in Canaan, Lakeville, Salisbury, and Sharon, Connecticut; Great Barrington, Sheffield, and South Egremont, Massachusetts; as well as Dover Plains, Fishkill, Millerton, New Paltz, Newburgh, Poughkeepsie, and Red Oaks Mill, New York. The Bank has been serving families and businesses for over 170 years and offers a full range of consumer and business banking products and services as well as trust and investment services. To learn more, visit: salisburybank.com

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About Rentable
Rentable was started by founders who experienced the expensive, inefficient, and tedious move-in and move-out process of apartment rentals in Boston. Rentable is a venture backed startup that has recently participated in the MassChallenge early-stage accelerator program.

To learn more about Rentable and how it can help your business, please visit: www.rentable.com

View source version on businesswire.com:https://www.businesswire.com/news/home/20210902005062/en/

CONTACT: Alex Kamisher

alex@rentable.com

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: SOFTWARE CONSTRUCTION & PROPERTY FINANCE BANKING PROFESSIONAL SERVICES TECHNOLOGY SECURITY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Rentable

Copyright Business Wire 2021.

PUB: 09/02/2021 10:30 AM/DISC: 09/02/2021 10:30 AM

http://www.businesswire.com/news/home/20210902005062/en