Qira, a financial services platform that serves as an intermediary between owners, property managers and renters, has been named a preferred vendor for security deposit alternatives by the City of New York.
“Qira has been working with hundreds of owners and property managers in New York City to provide alternative security deposit options and increase the affordability of housing,” said Revital Gadish, CFO of Qira. “Receiving this recognition from the city is an honor.”
The New York Housing Preservation & Development (HPD) and The NYC Housing Development Corporation (HDC) awarded Qira as one of only three security deposit alternatives greenlit by the city. This distinction comes following a Request for Expressions of Interest to inform HPD and HDC’s potential regulation of these products in city- and HDC-sponsored events. Qira managed to beat out industry veterans to receive this distinction and is the only non-insurance, cash-backed option that gained the City’s seal of approval.
With a client roster ranging from boutique companies with five to 10 units to enterprise clients with thousands of units, Qira serves thousands of multifamily units including HUD and Section 8 properties. Qira reduces the financial friction between renter and landlord and leverages technology to increase efficiency at every interaction of the rent lifecycle by reducing upfront funds needed for residents to sign a lease.
Highlights and differentiators of Qira’s security deposit program include: a cash-based, non-insurance contract security deposit alternative for landlords to the traditional renter’s one-month security deposit; underwriting and applicant screening methodology to identify qualified applicants usually missed by traditional screening tools, a registered payment facilitator to support funds collection and payouts, in-house customer support center, property owner portal to track and submit claims and a selection of standard reports as well as the ability to generate custom reports.
