Rapid growth extends category leadership as the pandemic accelerates deposit replacement across rental housing
LeaseLock, the first and only nationwide A-rated lease insurance provider that totally eliminates security deposits, surety bonds, and guarantors in rental housing, today announced it has insured leases totaling more than $500 million in value.
The milestone comes on the heels of several months of explosive growth for the insurtech company, achieving $300 million in leases insured only two months ago. Since the start of 2020, LeaseLock has experienced 4x growth in launched apartment homes—beginning the year with 40,000 units and surpassing 160,000 units as of Q3. LeaseLock clients collectively own or manage over 2 million units, with blocks of additional units scheduled for launch through the remainder of 2020.
Unlike surety bond providers who offer deposit alternatives, LeaseLock is the only solution that enables true deposit replacement. With LeaseLock, communities are able to market themselves