Illinois property owners and operators are constantly navigating ever-changing rental housing laws. With new legislation around rental assistance and security deposits, what do these policies mean for multifamily in the Chicago region and Illinois as a whole? In light of new rental assistance programs, as well as a wave of security deposit legislation sweeping across…
2020 was a year marked by unprecedented change. Even in the face of economic uncertainty and industry disruption, LeaseLock has experienced several major milestones and unprecedented growth. Our sights are set on an even bigger 2021, but we’re taking time to reflect on all we’ve accomplished in partnership with our valued clients. Check out the…
Percent of rent collected on December 1st jumped 2 points MoM. First-day rent payments slipped across Class C properties. Lawmakers propose new $908 billion stimulus plan. Last month was marked by uncertainty — a resurgent COVID pandemic, a complicated presidential election outcome, and stalled conversations around a new stimulus package all correlated with a dip…
Percent of November 1st rent collected dropped 9 points MoM. First-day rent payments slipped across properties of all asset classes. Congress has yet to pass another COVID relief bill. The US presidential election is today, coronavirus cases are surging globally, and talks of a new stimulus package are at a stalemate, all contributing to large…
Lease insurance—what exactly is it? In the multifamily industry, apartment lease insurance is a completely new insurtech product designed to totally eliminate costly security deposits, drawn-out surety bond applications, and confusing guarantee programs, all of which are burdensome for both residents and operators. LeaseLock deploys lease insurance through its Zero Deposit Platform and unlike common…
Percent of October 1st rent collected dropped 5 points MoM. First-day rent payments dipped across all asset classes, each hitting post-COVID lows. The House of Representatives approves $50 billion in emergency rental assistance. October 1st rent payments slipped the same day as the passage of a new $2.2 trillion package, a reduced version of the…
The pandemic has impacted multifamily in a range of ways, and all operators face a unique set of challenges. While the economic effects of the pandemic hit Class C residents notoriously hard, all asset classes have been affected by different market forces. For example, Class A apartments have been especially hard-hit by renter movement away…
