2023 Recap: LeaseLock Achieves GRESB Accreditation, Surpasses $10 Billion in Insured Leases, and Notably Expands Client Base

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Apr 04, 2024, 10:39 ET

Emphasis on attainability driving rental housing migration toward lease insurance

LOS ANGELES, April 4, 2024 /PRNewswire/ -- Today, LeaseLock, the pioneer of AI-powered lease insurance for the rental housing industry, reflects on a year of remarkable achievements and growth. From earning GRESB accreditation to surpassing significant milestones in insured leases, LeaseLock has solidified its position as a leader in revolutionizing the rental housing market.

LeaseLock replaces deposits with lease insurance to appropriately offset the risk of bad debt and excessive damage. Powered by ledger data, LeaseLock Shield™ predicts risk and optimizes property coverage and pricing, accelerates leasing, and minimizes accounting, legal and regulatory challenges.

"LeaseLock is leading the migration away from antiquated deposits that guarantee bad debt amongst other obstacles, and our momentum over the past year illustrates how ready the industry is to progress," said LeaseLock CEO Janine Steiner Jovanovic. "We're eliminating the financial barriers that have hampered housing for generations. As we continue expanding our footprint, we're paving a socially responsible path forward for renters, operators and property owners. In this evolving deposit legislation landscape, LeaseLock delivers a renter-friendly solution while dramatically improving protections for rental housing investors and managers. The industry's embrace of our harmonious approach has allowed us to reach inspiring milestones in 2023, which we will build on in the year ahead."

1. Earning GRESB Accreditation

LeaseLock proudly announced its official accreditation by the Global ESG Benchmark for real estate investors (GRESB). This achievement underscores LeaseLock's unwavering commitment to actionable and transparent environmental, social, and governance (ESG) principles within the realm of rental housing.

2. Focused on Customer Satisfaction

Providing unparalleled service and customer support has always been a top priority for LeaseLock. The company's commitment is reflected in exceptional client satisfaction ratings and customer retention and growth.

3. LeaseLock Shield™: Profit Protection

LeaseLock introduced LeaseLock Shield™, a proprietary predictive risk platform designed to address the bad debt that plagues property owners and operators. This innovative platform leverages ledger data and AI to customize lease insurance by property, offsetting write offs and preventing substantial NOI loss.

4. Surpassing $10 Billion in Insured Leases

In 2023, LeaseLock surpassed $10 billion in insured lease value. This achievement reflects the growing adoption of lease insurance to replace deposits, as the industry embraces LeaseLock's innovative offering.

5. Reaching 2.5 Million Apartment Homes

Backed by insurance rated A (Excellent) by A.M., LeaseLock has now reached over 2.5 million apartment homes. The company's expanding footprint across the rental housing market empowers owners and operators to maximize NOI while providing renters with greater access to housing.

LeaseLock added 28 new companies to its lease insurance community in 2023. This growth signifies a significant shift away from traditional deposits.

As LeaseLock looks forward to the opportunities that 2024 will bring, the company remains dedicated to driving positive change in the rental housing industry.

About LeaseLock:
LeaseLock leads the next evolution in rental housing, empowering owners and operators with a new generation of financial tools to proactively manage risk and prevent NOI loss.

LeaseLock protects profits by offsetting avoidable debt and excessive damage. Powered by data from millions of units, LeaseLock Shield™ predicts risk and optimizes property coverage. Owners and operators gain smarter loss protection while accelerating leasing and minimizing regulatory risk.

LeaseLock has eliminated security deposits since 2016, setting the standard with AI-powered insurance technology. The company has insured over $10 billion in leases backed by insurance carriers rated A (Excellent) by A.M. Best. Our investors include SoftBank Ventures Asia, Wildcat Ventures, Westerly Winds, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Mucker Capital, and Hivers & Strivers Investment Fund.

As a GRESB certified partner, LeaseLock improves housing accessibility by removing financial barriers for renters. Learn more at leaselock.com.

Media Contact:
LinnellTaylor Marketing
Marlena DeFalco
VP of Accounts
(303) 682-3943
[email protected]

SOURCE LeaseLock