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Updated over 8 years ago,
Any new financial products that would be useful for landlords?
Hi folks, I'm a software engineer trying to brainstorm and evaluate financial products that landlords would find helpful. I'm hoping to outsource the idea generation part to you guys. I've listed a couple half-baked ideas below for comment, but am totally open to new suggestions as well. Generally, I would love to learn more about challenges you face that could be solved by new financial products. Thanks!
-Long-term lease purchasing. We would enter into a multi-year contract with you and negotiate a flat monthly payment. We would take care of sourcing tenants (subject to your approval) and deal with all the related logistics. Sort of like a property manager, but we would take on financial liability.
-Rent continuity insurance. If your tenant moves out, we would pay the rental cost until we find a replacement tenant for you (subject to your approval). This way, you have essentially guaranteed continuous cash flow.
-Corporate co-signing for higher-risk tenants. If tenant doesn't pay rent or is evicted, we cover the losses. It's already a big thing abroad, but hasn't made much headway in the US.