There’s probably no stage of leasing that is more complex and important than the application, review, and approval process. OneApp Guarantee hopes to improve and change the standard process. This program offers an easy way for renters to secure an apartment and for property managers to lease out their vacant apartments without fear of defaults. Given the uncertainties surrounding the traditional system, OneApp Guarantee removes much of the unknown from the situation and provides property management companies with peace of mind – and guaranteed revenue streams – that could not be achieved before.
This kind of novel solution couldn’t come around at a better time for many property managers. Due to the coronavirus pandemic, many renters are facing difficulties in paying their monthly bills. This could lead to property management companies facing an unprecedented number of defaults and eviction actions. Prior to the COVID-19 pandemic there were great renters that paid on time, yet who have now found themselves with reduced hours or job loss. The result is an old system that results in an eviction but with an alternative option these renters could remain housed.
That’s the change that OneApp Guarantee is bringing.
OneApp Guarantee is a secure co-signer which connects renters with property management companies and guarantees a mutually beneficial relationship free from the fear and worry of rental agreement default. OneApp Guarantee will be a renter’s co-signer and take on the risk associated with higher risk applicants. The process is incredibly simple for renters. Renters with credit issues, past evictions, or lack of income can apply for free with OneApp Guarantee, get approved, pay the non-refundable fee (equal to one month’s rent) and upon approval, they can quickly move into their new home. It’s that simple. What this does is deliver to property management companies an expanded pool of residents and a system for keeping their properties filled throughout the year. This promise hinges on the guaranteed rent, in that respect, the company stands behind each and every applicant they approve. If a renter defaults and has to be evicted or skips, OneApp Guarantee will reimburse rent losses and damages to the property for up to 3x the rent based on the expenses incurred.
This isn’t just glib marketing, either. Currently, OneApp Guarantee is raising $2 million for their Oregon Eviction Relief Fund. Given the difficulties presented by the COVID-19 pandemic, this action is not only indicative of their commitment to renters and landlords but also their unique grasp of the problems facing renters and properties management companies at any given time. OneApp Guarantee isn’t just a dedicated partner in terms of facilitating rental agreements and guarantees. They also bring value to the properties that utilize their service. For example, one property management firm added $150,000 in additional revenue in mere months – all without any defaults. Over the past 12 months, OneApp Guarantee has added $10 million in annualized revenue to its clients’ balance sheets.
Of her experience using OneApp Guarantee, President of Integral Property Management Lena Pitt, CPM said, “We were the very first company in the Atlanta market to start using the OneApp Guarantee leasing tool for our entire portfolio. Together, Integral Property Management and OneApp Guarantee has allowed many people to have access to a place they can call home. In just the last six months, we have added $250,000 of annualized income to our bottom line with guaranteed residents and zero defaults! This is truly a remarkable product for property owners and more importantly residents.”
Lena Pitt highlights an important dual benefit for properties that accept OneApp Guarantee. It gives both properties and residents a peace of mind.
“Guaranteed residents” and “zero defaults” might sound like a fantasy, but it is quickly becoming the reality for property managers that use OneApp Guarantee. Property manager Celina A. said of OneApp Guarantee’s streamlined process, “Our application requirements have recently changed, and we no longer accept first time renters. However, with OAG we can approve them and move them into our community hassle free. The OneApp Guarantee process is as easy as 1 2 3. The free application only takes 5 minutes and they respond as they say (within 24 hours or less). My applicants have been at ease knowing that OneApp Guarantee has their back. Thanks!”
OneApp Guarantee’s ability to give property managers a broader applicant pool is just one among many of the features it brings to companies. But one feature that is continually cited, as Celina does above, is the speed and efficiency with which applications are processed.
OneApp Guarantee works with many of the largest multifamily property management companies in the country. What the service offers property managers is an expanded and persistent pool of applicants that are looking for an apartment to lease. Best of all is that the process is entirely free for the property management company. OneApp Guarantee takes care of everything and all of the fees are paid by the person renting the unit.
While there are no concrete answers yet about what direction the economy will take in the future, OneApp Guarantee is here to make sure that quality tenants and property management companies connect with one another. It is a guarantee on business in uncertain times and a bridge between landlord and tenant that makes the relationship between them stronger. To reiterate, OneApp Guarantee stands behind all of the applicants it approves, and it doesn’t back down from its commitments – nor its values.
What the company is promising and bringing to the rental market is nothing less than a revolution and it is one that could change the entire process for the better. When you consider what OneApp Guarantee is offering property managers – a ready-to-go list of qualified renters all with a guarantor – and the cost of this service ($0 to the property management company), it’s pretty much a no-brainer given the uncertainty of the current economic situation.
For More Information about OneApp Guarantee:
Ken Elstad -OneApp Guarantee firstname.lastname@example.org 214-233-6164