Real estate company Citi Habitats and insurance technology firm Jetty recently announced a strategic alliance designed to help streamline the apartment leasing process for New York City renters. As Jetty’s first brokerage partner, Citi Habitats’ agents will actively promote Jetty’s suite of services to their rental clients. In addition, the company will introduce and recommend Jetty’s products to the owners of their portfolio of new development and re-rental exclusives. This deal further advances Citi Habitats’ commitment to innovative and forward-thinking tools for agents, owners, and renters.
Jetty was designed to ease the pain points many apartment seekers feel when leasing a new home—namely, the security deposit, income qualification requirements, and renter’s insurance. The company provides a simple, one-stop solution to these obstacles that is easier, faster and less expensive than the alternatives. For a flat fee equal to 17.5 percent of the total amount of the security deposit, Jetty will cover this payment for the tenant, thus freeing up a substantial amount of money for the renter at what can be a financially challenging time. Jetty also offers affordable property and liability protection for tenants, as well as lease guarantee services.
“Our view is that we are in the hospitality business,” said Gary Malin, president of Citi Habitats. “In endorsing Jetty, we provide both our rental clients and landlord partners increased options to help them achieve their unique goals. It’s a win-win situation for all involved.”
Jetty is not only beneficial to tenants, but also landlords. When agreeing to accept Jetty’s security deposit alternative and lease guarantor service, building owners make their property more appealing and accommodating to apartment hunters while expanding their pool of potential tenants—all at no cost to them.
“There are many different players that interact with residents during the apartment leasing process beyond landlords and property managers,” explained Michael Rudoy, co-founder and CEO of Jetty. “By having the real estate professionals of Citi Habitats advocate our services, we are putting Jetty into the hands of a tenant’s trusted advisor. Their real estate agent is the first person to which many New Yorkers turn when beginning the search for their dream home.”
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