Jetty Announces Expanded Partnership with Morgan Properties

News provided by

Apr 20, 2023, 09:00 ET

Morgan Properties is partnering with Jetty to help their residents overcome the potential challenges and financial barriers to renting.

NEW YORK, April 20, 2023 /PRNewswire/ -- Jetty, the financial services company on a mission to make renting a home more affordable and accessible, announced an expanded partnership with Morgan Properties, a national real estate investment and management company with over 95,000 units across the country, to introduce their flagship product, Jetty Deposit, to Morgan Properties residents.

Morgan Properties was seeking a partner to help them attract new renters without taking on additional financial risk. Instead of offering move-in concessions, such as zero-dollar security deposits, they found a deposit alternative to be the best solution for their portfolio. With Jetty Deposit, Morgan Properties scores a win-win for both sides of the lease—their renters save meaningful cash at move-in and Morgan Properties gets increased protection against property damage or lost rent.

Rather than requiring renters to lock up their hard-earned cash in a security deposit, Jetty Deposit dramatically lowered upfront move-in costs for their renters while providing financial protection for Morgan Properties. Jetty Deposit is now available at over 300 Morgan Properties communities.

"All too often, security deposits are a financial burden for our prospective residents and can be a major hurdle to lease signing. Our team is always seeking new, innovative solutions, like Jetty's security deposit alternative, to make renting with Morgan Properties an exceptional experience," said Jason Morgan, Principal and President of Morgan Properties Special Situations. "Our partnership with Jetty helps protect our bottom line, streamline our leasing operations, and provides savings and convenience for our residents."

"Nearly 70% of U.S. renters have less than $1,000 in savings, and cash-based security deposits can put tremendous strain. That's why the largest property owners and managers in the country rely on Jetty Deposit and our suite of products to make renting a home more affordable and flexible", said Mike Rudoy, Jetty's Co-Founder and Chief Executive Officer. "Morgan Properties shares in our mission to reduce the financial barriers of renting. We couldn't be more excited to add Morgan as our latest partner in our mission."

ABOUT JETTY
Jetty is a financial services platform on a mission to make renting a home more affordable and accessible for everyone. Jetty offers a suite of financial products that serve the needs of renters and multifamily owners/operators: Jetty Deposit, a security deposit alternative; Jetty Rent, a flexible rent payment program; Jetty Protect, a modern renters insurance product; and Jetty Credit, a credit building service. Jetty's network of property owners and operators own and manage millions of rental units across the country. Learn more at jetty.com.

ABOUT MORGAN PROPERTIES
Established in 1985 by Mitchell Morgan, Morgan Properties is a national real estate investment and management company headquartered in King of Prussia, Pennsylvania. Jonathan and Jason Morgan represent the next-generation leaders growing the platform and overseeing the business operations. Morgan Properties and its affiliates currently own and manage a multifamily portfolio comprising more than 350 apartment communities and over 95,000 units located in 19 states. The Company is among the three largest multifamily owners in the nation and the largest in Pennsylvania, Maryland, and New York. With over 2,500 employees, Morgan Properties prides itself on its quick decision-making capabilities, strong capital relationships, and proven operational expertise. Learn more about Morgan Properties at morganproperties.com.

CONTACT

Jetty
Clark Kays
[email protected]

Morgan Properties
Tina Malek
[email protected]

SOURCE Jetty