NEW YORK, May 29, 2019 /PRNewswire/ -- Jetty, a financial services company that removes the financial barriers of renting, today announced the launch of Student Housing Express, the first-ever platform designed to speed up and simplify the leasing process for student housing property managers with real-time underwriting.
Strict guarantor requirements have long created problems for both students and property managers. These requirements not only stand in the way of housing for many students—either preventing them from getting approved for the buildings they want or leaving them with cost-prohibitive up-front expenses—but they force student housing properties to turn away residents and therefore risk not filling units.
Student Housing Express enables student housing properties to use Jetty Lease Guaranty to instantly approve qualifying students who aren't able to get a traditional guarantor. These applicants are typically either U.S. residents without their parents' financial backing, or foreign national students whose parents will not qualify as guarantors because they're not U.S. citizens.
"Student Housing Express is the only platform on the market purpose-built for this specific issue," said Mike Rudoy, CEO and co-founder of Jetty. "It's just the first of many Jetty offerings to improve the lease signing process for both renters and property managers in the student housing sector."
In this "everyone wins" model, Student Housing Express also helps property managers fill units faster with more protection. Traditionally, approving renters took at least three to four days—putting properties at risk of losing great residents. Now, by combining Jetty's real-time underwriting with a seamless Member experience, the entire approval process takes just minutes. With Jetty, students can meet guarantor requirements at the exact same time of lease signing, and even upload the required documents or take photos of them directly from their phones. It also provides the property with more protection than a traditional guarantor, by covering monthly payments until the end of the lease term if a resident doesn't pay rent or show up.
In addition to using Jetty Lease Guaranty, Jetty's student housing partners can customize their Student Housing Express platforms to include Jetty's full suite of innovative rental products, which includes Jetty Deposit, a security deposit replacement product, and Jetty Renters Insurance. The platform is designed to be flexible, giving properties the ability to incorporate any combination of Jetty's three products to streamline the leasing process.
Learn more about Student Housing Express on Jetty's blog.
Jetty empowers renters with financial access to rental homes nationwide. Its three products work alone or together to improve the lease-signing experience, lowering the barrier to entry for everyday renters with a tech-focused, design-centric product. Jetty was founded by Mike Rudoy and Luke Cohler, launched to market in 2017, and is headquartered in New York. To learn more, www.jetty.com or www.jetty.com/realestate.
Hadley Stecker, 978-473-1754