The partnership reinforces LeaseLock's commitment to helping renters find home
MARINA DEL REY, Calif., Sept. 14, 2020 /PRNewswire/ -- LeaseLock, the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds and guarantors in rental housing, today announced a strategic alliance and fundraising campaign for Open Doors, an Atlanta-based nonprofit focused on securing housing for those exiting homelessness. As part of this strategic alliance, LeaseLock will promote Open Doors through its vast marketing channels and has committed to raising money for the organization through an activation campaign among top operators in the market.
"Our mission is to help the world find home and it's our responsibility to assist organizations that are helping those in need," said Ed Wolff, CRO of LeaseLock. "We are touched by the tremendous work done by Open Doors. The multifamily industry is full of big hearts, and we look forward to collaborating with our clients, contacts, and content subscribers to raise money for and awareness of Open Doors. We are committed to supporting the Atlanta community as we expand our footprint in the Southeast."
Open Doors works with its nonprofit partners to place people into permanent, safe rental housing. In response to the COVID-19 pandemic and associated economic crisis, Open Doors has provided a safety net for its clients through their RentBridge rental payment assistance program and has partnered with The City of Atlanta and the Atlanta Apartment Association to identify apartment communities willing to house individuals and families temporarily sheltered in hotels.
Along with its partners, Open Doors is actively closing the gap on housing instability - with every $1,000 donated to Open Doors, a family is placed in a sustainable, affordable home in under 30 days. In the last two years, Open Doors connected 800 households, totaling more than 2,300 people, to professionally managed apartments.
"There is great synergy in the missions of LeaseLock and Open Doors, as we both work to eliminate barriers for those seeking housing," said Matt Hurd, Executive Director of Open Doors. "We are extremely appreciative of LeaseLock's commitment to Open Doors, especially as the COVID-19 pandemic and resulting economic crisis push more people to the brink of eviction and homelessness. Through this alliance, we hope to further our reach for making connections to bring people home."
Powered by insurance technology, LeaseLock makes renting faster, simpler, and more affordable. It is the only product that fully eliminates deposits and allows multifamily communities to market themselves as Zero Deposit. Instead of paying a deposit, renters pay a small monthly deposit waiver fee and the property receives over $5,000 in rent loss and damage coverage on every lease.
LeaseLock, the category leader in deposit replacement, has insured over $500 million in leases across the industry's largest apartment portfolios. Its customers currently manage over 2 million rental units. NMHC Top 50 operator clients include Greystar, Pinnacle, Alliance, FPI, Avenue5, and LMC. Top ownership clients include UBS, PGIM, TruAmerica, Eaton Vance, ColRich, Harbor Group and Goodman Real Estate. LeaseLock integrates with all major property management systems, including Yardi, RealPage, and Entrata.
LeaseLock helps the world find home. Powered by insurance technology, LeaseLock fully eliminates deposits to deliver a modern lease experience in rental housing—faster, simpler, and more affordable.
Headquartered in Marina Del Rey, Calif., LeaseLock has insured over $500 million in leases and is backed by insurance rated A (Excellent) by A.M. Best. LeaseLock has secured $25 million from leading insurance, technology, and real estate venture funds including Liberty Mutual Strategic Ventures, American Family Ventures, Wildcat Venture Partners, and Moderne Ventures. For more information, please visit www.leaselock.com.
About Open Doors
Open Doors' mission is to ensure that homes will always be available for people exiting homelessness, while acting as a catalyst for a system change in how Atlanta approaches housing those with the greatest need. Open Doors utilizes innovative resources and technology to bridge property owners and management companies to the direct service, non-profit agencies providing case management and rent subsidies to households searching for a home. Over the past seven years, Open Doors has connected over 7,700 individuals, families, and veterans to affordable, permanent housing by making it easier to find vacant rental units and lowering barriers to approvals. For more information, please visit https://opendoorsatl.org/.