LeaseLock Partners with MRI Software to Further Eliminate Security Deposits

Zero Deposit™ integrates with all major multifamily property management systems

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Jun 29, 2021, 12:00 ET

LOS ANGELES, June 29, 2021 /PRNewswire/ -- LeaseLock, the world's leading insurtech platform for enterprise real estate, today announced an expanded partnership with MRI Software, fully integrating Zero Deposit™ into the property management system's native workflow.

"LeaseLock is a natively deployed solution that eliminates any out-of-workflow processing during the resident lifecycle," said Derek Merrill, founder and CEO of LeaseLock. "MRI clients can eliminate traditional deposits and deposit alternatives that offer inadequate coverage without burdening residents with outdated, off-system processes."

LeaseLock is an AI-driven financial technology platform that integrates with a rental housing provider's native software system and existing online resident leasing process. Operators then market their communities as Zero Deposit™, creating an affordable, seamless resident experience and conversion lift — while protecting their properties with $5,000 in rent loss and damage coverage on every new lease with the standard coverage plan.

Meanwhile, residents are no longer saddled with expensive security deposits many cannot afford and that all too often provide operators with severely inadequate financial protection.

"We are excited to offer our clients the ability to integrate LeaseLock into their leasing processes," said Sean Slack, vice president of partnerships at MRI Software. "Giving MRI clients access to a growing ecosystem of innovative technologies is a key part of our open and connected approach to software, and we are proud to provide the multifamily industry with this integrated capability."

NMHC Top 50 operator LeaseLock clients include Greystar, Cushman & Wakefield, Avenue5 Residential, Harbor Group Management, LLC, LMC, and RKW Residential. Top ownership clients include Goldman Sachs, ColRich, GoldCor, Olive Tree, TruAmerica, White Oak, Trinsic, Strata Equity Group, Goodman Real Estate, and Elevation Real Estate and Management.

LeaseLock integrates with all major property management systems, including Yardi, RealPage, Entrata, and Resman. The lease experience is seamless for residents, effortless for onsite teams, and fully integrated into enterprise back-office workflows. The insurtech platform provides on-demand access to asset performance metrics to quantify true enterprise impact, including bad debt reduction and NOI lift.

About Us
LeaseLock is the world's leading insurtech platform for enterprise real estate.

Our flagship lease insurance product leverages artificial intelligence to eliminate security deposits from enterprise operating infrastructure—powering a faster, simpler, more affordable rental transaction. LeaseLock seamlessly deploys within the native online leasing checkout, resulting in significant conversion lift—while instantly generating industry-leading coverage for the property on every lease.

LeaseLock has insured over $1 billion in leases backed by insurance rated A (Excellent) by A.M. Best. Our global investors include SoftBank Ventures Asia, Wildcat Ventures, Westerly Winds, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, and Mucker Capital.

About MRI Software
MRI Software is a leading provider of real estate software solutions that transform the way communities live, work and play. MRI's comprehensive, flexible, open and connected platform empowers owners, operators and occupiers in commercial and residential property organizations to innovate in rapidly changing markets. MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through leading solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to elevate their business and gain a competitive edge. For more information, please visit mrisoftware.com.

Media Contact:
LinnellTaylor Marketing
Marlena DeFalco
Account Director
(303) 682-3943
[email protected]

SOURCE LeaseLock