Question 1

What is the Owner Benefit Package?

Accepted Answer

The Owner Benefit Package is a bundled service that offers
our owners new and innovative product features that include:

Rent AdvanceTM
2 Months of Rental Income Protection
Quarterly Rental Analysis Reports
Real-Time Legislative Alerts & Updates

Question 2

What are the benefits?

Accepted Answer

The Owner Benefit Package™ is true peace of mind. Accepting a Rent Advance™ offer gives owners up to 12 months of riskfree rental income. If you decide not to proceed with the advance, you can rest easy knowing your rental income is protected with 2 months of protection.

Question 3

What is Rent Advance™ & how does it work?

Accepted Answer

Rent Advance™ gives owners the ability to monetize up to 12 months of rent payments with no risk of repayment. Owners will receive an email offer with an exact dollar amount & a link to view the offer details. Follow the link to view additional features and accept the offer. Once the offer is accepted the owner will receive a confirmation email containing a request to verify the bank account for delivery of the funds.

Question 4

Is accepting a Rent Advance™ offer required?

Accepted Answer

No, the Rent Advance™ offer is an optional feature, and the property owner is not required to accept it.

Question 5

Does the Rent Advance™ offer expire?

Accepted Answer

Yes, the Rent Advance™ offer will expire 7 days after it is generated and emailed to owners. If your offer has expired, please use the chatbot feature on the landing page that is accessible via the link in the offer email, to determine if another offer can be generated prior to the next offer period. You may also contact your property manager if you have additional questions.

Question 6

How do I know if my property qualifies for a Rent Advance?

Accepted Answer

A property qualifies for a Rent Advance™ offer if: 
Minimum 6 months remaining on a new or existing lease
The monthly rent amount is between $800 & $5,000
Rental payments are not subsidized by rental assistance programs
Existing leases are scored using a proprietary algorithm that reviews a tenant’s payment history. Leases with NSFs or late payments may not initially qualify for a Rent Advance™ offer.

Question 7

How does the Rental Income Protection work, and does it apply for property owners who accept the Rent Advance™ offer?

Accepted Answer

Subscribing in the OBP™ provides owners with up to 2 months of Rental Income Protection from losses stemming from a tenant’s default on rent payment. For owners who accept the Rent Advance™ this feature would no longer apply since the owner has received all scheduled rent payments upfront.

Question 8

Are there any qualification requirements for the Rental Income Protection feature?

Accepted Answer

Yes, the monthly rent amount must be between $800 and $5,000. Existing leases at the time of subscription are scored based on the current tenant’s payment activity. We will review historical on-time payments, late payments, NSFs, and more to determine if a unit qualifies. All new renters, with new leases, are automatically qualified when the unit is currently subscribed in the Owner Benefit Package™.

Question 9

How are claims paid?

Accepted Answer

Claims are typically paid within 7 days, and upon the earlier of:
Regaining possession of the unit
The lease expiration date
Receipt of an official judgment against the tenant

Question 10

What if my unit does not qualify for the Rental Income Protection?

Accepted Answer

If your unit does not currently qualify, it will automatically be placed in the Reporting Only feature. If your property manager has opted to not participate in Reporting Only, your rental unit will be auto-subscribed once it qualifies.

Question 11

What is the Reporting Only Package?

Accepted Answer

The Reporting Only Package provides owners of unqualified or vacant units with access to features within the full OBP™ offering. You will continue receiving the Rental Analysis Report and Legislative Updates during this period. Once your unit qualifies, it will be automatically subscribed into the full package.

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