Provide your owners with up to 12 months of rent, upfront!
Differentiate your business by enabling owners to accelerate 6 to 12 months of rental income!
What are the benefits of Rent Advance to Property Managers?
- Provides a competitive advantage to attract new clients.
- Offers a unique value proposition to retain doors.
- Enables property managers to also receive advanced management fees.
- Delivers a fully automated and white-labeled solution for a delightful customer experience.
Rent Advance™ is a first of its kind solution that provides owners with accelerated rental income.
Partner with Steady and offer your owners the ability to advance their rental income and receive your management fees upfront, too!
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Rent Advance™
12 months of rent in advance
What Is Rent Advance™?
Rent Advance provides owners of rental homes with 6 to 12 months of rent payments upfront — cash-in-hand, in one lump sum payment — allowing them to monetize their entire lease on day one. This advance rent payment solution is only available to owners who work with a property manager partnered with Steady.
How Does It Work?
- Once a lease is signed, Steady begins to qualify and create the bespoke Rent Advance offer to present to your owners in an automated and white-labeled fashion.
- Your owner receives a live offer via email, including FAQs and a transaction statement.
- When an owner accepts the offer, both the owner and the property manager receive confirmation emails.
- Upon final underwriting approval, Steady sends the advanced rent to the owner and management fees to the property manager.
- The professional management relationship remains unchanged - residents are unaffected and continue to pay the rent to the property manager.
- The owner retains their advanced rental income, regardless of tenant payment for the duration of the transaction.
What are the benefits for property owners?
- Eliminate risk of nonpayment due to tenant default.
- Access a new source of liquidity without taking on new debt.
- Accelerate future investment opportunities for your owners.
Requirements of the Rent Advance Program
For the duration of the Rent Advance program, property managers and owners must adhere to a few requirements:
- Property manager must ensure that residents meet Steady’s approved qualification criteria.
- Property manager must keep the home habitable, ensuring any required repairs are made.
- Owner must utilize the property manager for the duration of the agreement.
- Owner agrees not to sell, mortgage, or otherwise take any action to the detriment of Rent Advance or its interests for the duration of the agreement.
Leverage Steady’s solutions as part of
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Are you an owner interested in Steady’s suite
of solutions for your property?
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Whether you have questions about our solutions
or working with Steady, we can help provide answers.
or working with Steady, we can help provide answers.
