Security Deposit Alternatives RFEI

Release date: 12/30/2020
Submission deadline: 9/15/2023

HPD and HDC closed the submission period to the Security Deposit Alternatives Pre-Qualified List on September 15, 2023. Entities already pre-qualified will continue to be pre-qualified subject to the terms of this RFEI. Submissions will be reviewed on a biennial basis with the next review to occur in 2025.

The New York City Department of Housing Preservation and Development (HPD) and Housing Development Corporation (HDC) are seeking to identify entities for consideration as Security Deposit Alternative Providers to offer their alternatives to renters leasing newly-constructed City- and/or HDC-sponsored affordable housing. These Products are financial services that allow renters to pay a portion of their security deposit value instead of the full amount at the time of lease-up.

A list of pre-qualified Providers will be developed from this RFEI. Once the Pre-Qualified List is established, developers of City- and HDC-sponsored affordable housing can voluntarily choose one or more Providers to offer security deposit alternatives to renters leasing units in their developments.

The RFEI contains a detailed description of the program, eligibility criteria and application requirements.

Interested parties may submit questions about this Request for Expressions of Interest via email to Questions by email will be due Monday, January 25, 2021 at 4:00pm and HPD will provide a written summary of the questions and responses to all interested parties in advance of the application deadline for the initial Pre-Qualified List. Thereafter, questions will be answered periodically.

Applications received by Monday, February 15, 2021 at 4:00pm will be considered by the HPD and HDC for inclusion on the initial Pre-Qualified List. After the first round of reviews, applications will be accepted on a rolling basis, and both agencies anticipate that the Pre-Qualified List will be updated periodically.

People with disabilities requiring special accommodation should contact HPD’s Disability Services Facilitator at