TMCnet News
GoldCor Capital Partners Launches LeaseLock Zero Deposit Across The Sun BeltMARINA DEL REY, Calif., Nov. 7, 2019 /PRNewswire/ -- LeaseLock, the first and only provider of a nationwide A-rated lease insurance program that totally eliminates security deposits and deposit alternatives like surety bonds in rental housing, today announced that GoldCor Capital Partners (GoldCor) is deploying LeaseLock Zero Deposit™ across its portfolio.
GoldCor owns apartment communities throughout the Sun Belt states, operated by third party property management companies. LeaseLock powers a modern lease experience with insurance technology. Renters pay a fee starting at $19 per month that generates over $5,000 in coverage for the property on every lease. Renters save thousands of dollars at move-in, while apartment communities drive more traffic, convert more leases, significantly reduce bad debt, and fully eliminate deposit administration and liability. "We believe in lease insurance. Our research revealed LeaseLock Zero Deposit as the only solution in the market that is a true insurance product, not a managed pool of funds as all surety bonds are," said Nir Goldberg, Managing Partner at GoldCor. "By eliminating burdensome and expensive security deposits, we are making our communities more accessible and more affordable, paving the way for higher occupancy rates and increased revenue. Additionally, our communities are better protected than ever from unit damage and lease skips and evictions. Everyone wins with LeaseLock Zero Deposit." LeaseLock is the first and only nationwide lease insurance program, rolling out more than 1 million rental units across the NMHC Top 50. Other leading apartment companies who have replaced security deposits with LeaseLock include Greystar, Avenue5 Residential and irst Communities. "We are absolutely thrilled to bring GoldCor, recognized throughout the industry as a premier ownership group, into the Zero Deposit family," said Ed Wolff, Chief Revenue Officer of LeaseLock. "Nir and his team truly understand the difficulties security deposits and deposit alternatives like surety bonds create when it comes to signing new residents. Unfortunately, they understand all too well the associated management hassles for onsite teams. With the adoption of Zero Deposit, GoldCor is accelerating the multifamily industry into a new era that offers a seamless, convenient, and affordable lease experience for the modern resident." By simplifying the lease transaction, LeaseLock is accelerating the leasing funnel. LeaseLock has measured a 10 percent lift in closing ratio on average—resulting in one to two new leases per month, per property. Additionally, lead-to-move-in is accelerated by 10 days on average, reducing vacancy loss. Further, clients are realizing a 50 percent reduction in bad debt on average. LeaseLock published Zero Deposit performance results across three of its clients totaling 21,790 apartment homes. Early release Zero Deposit clients have insured over $100 million in leases to-date. Zero Deposit is integrated with all major property management software systems, including Yardi, RealPage and Entrata. The resident lease experience is seamless and completely native—requiring no out-of-workflow processing. About LeaseLock Headquartered in Marina Del Rey, CA, LeaseLock Zero Deposit™ totally eliminates all deposits, surety bonds and guarantors. Renters pay a fee starting at $19 per month that generates over $5,000 in coverage for the property on every lease. Renters save thousands of dollars at move-in, while properties drive more traffic, convert more leases, significantly reduce bad debt, and fully eliminate deposit administration and liability. LeaseLock is launching across more than 1,000,000 apartment homes, backed by insurance rated A (Excellent) by A.M. Best. LeaseLock secured $10M in Series A financing from leading insurance and real estate technology venture funds including, Liberty Mutual Strategic Ventures, American Family Ventures, Wildcat Venture Partners and Moderne Ventures. For more information, please visit www.leaselock.com. Media Contact:
SOURCE LeaseLock 
|
View original content to download multimedia: