LeaseLock Enters Into Industry-leading Partnership with Aptly Screening

(Dallas, TX) May 6, 2024 – LeaseLock, the only lease insurance provider for rental housing, has announced a strategic partnership with Aptly, the industry’s most comprehensive screening solution. The partnership combines Aptly’s game-changing resident screening with LeaseLock’s unique Zero Deposit™ program, to attract high-quality renters while mitigating the risk of lost income through an integrated workflow.

Zero Deposit™ solves the needs of property investors, operators and renters alike. By replacing deposits, LeaseLock makes housing more accessible, removes the hassle of deposit management, accelerates leasing, and offsets income loss. The average multifamily property budgets 1 to 2% annually for bad debt, because deposits fail to mitigate the risk of write offs. LeaseLock replaces deposits, removing operational burden and accelerating leasing while offsetting write offs and notably improving cash flow and investor returns.

“We’re thrilled to join forces with Aptly to integrate our industry-leading solutions for a seamless customer experience,” said Janine Steiner Jovanovic, CEO of LeaseLock. “This partnership marks a significant step towards a collective profit protection approach through truly innovative programs that enhance the housing experience for renters and operators while driving greater value for investors.”

Aptly has pioneered the most advanced, AI-powered fraud detection, paired with real-time income verification and multi-source identity verification, delivering a comprehensive screening suite designed to drive efficient, reliable leasing outcomes. Eighty percent of landlords have experienced application fraud more than 20 times.* This fraud results in $16 billion in losses to the multifamily industry each year.

“The integrated loss protection of Aptly and Zero Deposit™ delivers an umbrella of protection for all constituents in the rental housing lifecycle.” said Jovanovic. “At LeaseLock, we’re dedicated to bringing innovative risk management solutions to the industry that drive greater profitability for property owners and operators, while also prioritizing the best interests of renters.”

Aptly minimizes property risk by providing a single platform that streamlines everything from application to approval:

Instant screening for credit, criminal history, and eviction records
Multi factor real-time anti-fraud biometrics for identity verification
Automated income verification via bank connect
Built-in document fraud analysis for manually uploaded pay stubs and bank statements
Debt service calculations, cash flow analysis, and analyzation of spending patterns, NSF/overdraft incidents, and rental payment history

“The Aptly partnership with LeaseLock is a testament to our mission to empower the rental housing industry with cutting-edge solutions that not only streamline operations but also drive tangible business outcomes,” said Sina Shekou, CEO of Aptly. “Our integrated platform offers a seamless leasing experience while substantially mitigating risk and improving financial performance.”

*Based on a Forrester Consulting Thought Leadership Paper commissioned by TransUnion

About LeaseLock

LeaseLock is the leading insurance technology provider for rental housing. Our AI risk solution, LeaseLock ShieldTM, predicts risk and optimizes coverage for each property and portfolio. Owners and operators gain smarter loss protection while accelerating leasing and minimizing regulatory and legal risk. With over $10 billion in leases insured, LeaseLock is reshaping the way owners and operators manage financial risk while delivering significant benefits to both residents and property investors. As a GRESB partner, LeaseLock is dedicated to improving housing accessibility by removing financial barriers for renters while protecting against the risk of bad debt. Learn more at www.leaselock.com.

About Aptly

Aptly was founded in 2017 by a team of property tech SaaS entrepreneurs who built and scaled single family’s first cloud property management platform. Working with leading brands in both single and multifamily real estate, the Aptly team has in-depth industry knowledge and expertise. Headquartered in San Francisco, Aptly has embraced the remote work culture, with team members in San Diego, Buenos Aires, Las Vegas, Dallas and beyond. Aptly is integrated with leading property management and email platforms such as Yardi, RealPage, Office365 and Google Apps. Aptly is proudly backed by Accel Ventures, Salesforce Ventures and C-Level executives from Facebook, Salesforce.com and Twilio.