General Questions
What is the Owner Benefit Package™?
The Owner Benefit Package™ is a bundled service that offers our owners new and innovative products that include:
- Rent Advance™
- Legislative Alerts
- Rental Income Protection
- OBP™ Rental Report
- Eviction Protection
What are the benefits?
The Owner Benefit Package™ is true peace of mind. Accepting a Rent Advance™ offer gives you up to 12 months of risk-free rental income. If you decide not to proceed with the advance, you can rest easy knowing your rental income is protected with 2 months coverage + coverage of eviction related expenses.
How do I subscribe or unsubscribe?
Subscribing in OBP™ is easy, you do not have to do anything. Your rental units will be automatically subscribed in the services provided.
If you wish to unsubscribe, you must complete an online opt-out form. Not completing the form will activate the subscription and you will be charged.
Owners who do not opt-out within the first 30 days of the program starting will be required to remain subscribed for the duration of the existing lease associated with your property.
How much does OBP™ cost ?
The monthly subscription fee for the Owner Benefit Package™ is $39.95. Additional fees apply when accepting a Rent Advance™ offer**.
What happens if my rental unit does not initially qualify for the benefits in OBP™?
The Reporting Only Package provides owners of unqualified with access to certain features within the full OBP™ offering. You will continue receiving the Rental Report and Legislative Updates during this period. Once your unit qualifies, it will be automatically subscribed into the full package.
Rent Advance™
What is Rent Advance™?
Rent Advance™ gives owners of qualifying units the ability to receive up to 12 months of rent in one lump sum payment. Rent Advance™ completely removes the risk of a tenant defaulting on their rental payment obligation.
How does Rent Advance™ work?
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.
Are owners required to accept the Rent Advance™ offer?
No, the Rent Advance™ offer is optional, and owners are not required to accept it.
Does the Rent Advance™ offer expire?
Yes, a Rent Advance™ offer generally expires 7 days after it is emailed to an owner. Owners may request another offer prior to the next offer period.
How do I know if my property qualifies for a Rent Advance™?
Minimum qualification requirements are:
- There is at least 6 months remaining on a new or existing lease. 6 months is the minimum duration for Rent Advance™
- The monthly rent is not currently subsidized by rental assistance programs
- Monthly rent amount is between $800 & $5,000
- Rental property is a single-family home, or the unit is within a duplex, triplex, or fourplex.
- Existing leases are scored using a proprietary algorithm that reviews payment history. Leases with NSFs or late payments may not initially qualify for Rent Advance™.
Rental Income & Eviction Protection
What is Rental Income Protection? What does it cover?
OBP™ protects you from losses stemming from a tenant’s default on rent. We will provide up to 2 months of lost rental income on qualifying units. Examples of what is covered:
- Tenant stops paying rent and is evicted
- Tenant breaks the lease
- Tenant skips, or abandons, the rental unit
What is Eviction Protection? What does it cover?
OBP™ protects you from costly eviction fees. We will provide up to $1,000 towards the legal costs of an eviction, or other legal action, following a tenant’s default on rent.
Does Rent and Eviction Protection apply to owners who accept the Rent Advance™?
When you accept a Rent Advance™ offer you no longer need Rent Protection as you have received your rental payment in advance. You do still qualify for, and receive, the benefits of the Eviction Protection.
Are there any qualification requirements for Rent and Eviction Protection?
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 rental units with new renters are automatically qualified when the unit is currently subscribed in the Owner Benefit Package™.
How are claims handled?
We handle the claims process on your behalf. When it comes time to make a claim, we will submit a claims request and we will provide all required documentation.
Claims are typically paid within 7 days, and the management fees will be deducted.
OBP™ Rental Report
What is the OBP™ Rental Report?
Our rental report provides you with access to accurate rental listing comparables. When your rental unit is vacant and ready for leasing, our comps report will provide you with insights on how other similar rental units are being priced.
Real-Time Legislative Alerts
What information is included in the
Legislative Alerts?
Our legislative updates provide you with details on new, pending, and recently passed rental housing legislation. Stay up to date on rental housing laws and how they may effect future investment opportunities.