Piñata Launches World's First Platform to Reward Renters

NEW YORK, Aug. 25, 2020 /PRNewswire/ -- Piñata, the world's first rent rewards platform, today announced the launch of its new app for iOS and Android mobile devices in the U.S. The free platform turns rent day into rewards day, celebrating rent payment with Piñata Cash and gift cards to spend at local businesses. Even when it's not rent day, Piñata gives renters exclusive perks and special deals that stretch their disposable income by over $4,500 a year.

"According to the Joint Center for Housing Studies at Harvard, a record 11.4 million Americans spend more than 50% of their income on rent. We get perks for hotel stays, flights, and credit card spend, but we don't get anything for our biggest recurring expense," said Piñata CEO, Lily Liu.

"Piñata is reimagining what renters should get from renting, in a time when more Americans are renting than ever. Our mission is to improve the relationship between landlords, property management companies, renters, and their communities, in a time when these relationships have never been more important."

Serving as the loyalty layer between landlords, or property managers, and their tenants, Piñata helps give renters more reasons to feel good about paying rent in full and on time, and it's building a safety net for renters who struggle to do so. For landlords and property managers, member perks differentiate their properties and give renters another reason to renew their leases when the time comes. Landlords and property managers can also design custom incentives and bonuses.

Current features on the Piñata app include:

• Free access: The app is free and open to any and all renters, whether or not their landlords or property managers are participating. Renters who are invited by participating landlords or property managers get extra rewards and benefits, and those who aren't linked to participating landlords or property managers must provide rent information (e.g., rent amount and due date) and report each rent payment.
• Piñata Cash: rewards redeemable for gift cards or cash, paid to renters every time they pay rent in full and on time.
• Piñata Perks: a marketplace featuring over 300,000 deals and special offers from local businesses and 250+ national brands, all designed to reduce renters' financial stress and make life more affordable.
• A welcome gift when renters join, including $30 to spend at local businesses.
• A resource center with FAQs and easy outreach via email or phone call to learn more about local community resources and available aid.

For Piñata, giving back to the community is as important as rewarding renters. Through its Piñata Cares campaign, Piñata donates a meal to those in need every time a Piñata user pays rent. Meals are donated through national nonprofits like No Kid Hungry and local organizations like GRACE Marketplace.

Piñata is also helping renters in need during the pandemic through its rent relief grants. Throughout 2020, landlords and property managers have nominated renters in need, and Piñata has paid one month's rent for selected renters. This program will continue for as long as the pandemic impacts American renters.

Piñata is available now for renters, landlords, and property management companies. The app plans to add new features throughout 2020, including elements that boost financial health, games to earn more rewards, more special offers, and a community concierge service. For more information, visit https://www.pinata.ai.

About Piñata
Piñata is the world's first rent rewards platform, turning rent day into rewards day with cash, gifts, and exclusive member perks. The free platform is available to all renters in the United States. The company envisions a future where forward-thinking landlords and property managers are beloved hospitality providers, and renters can build credit and savings from renting. This rent revolution is brought to you by a team of change leaders, creatives and technologists, including two recognized social entrepreneurs who also happen to be women of color. Best of all, Piñata cares: every time someone pays rent, Piñata donates a meal to the hungry, and every month it covers the rent for a renter in need. For more information, visit https://www.pinata.ai.

SOURCE Piñata Global, Inc.

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https://www.pinata.ai