Jetty x Stuy Town: A Case Study
How Jetty helps make renting easier than ever for one of the biggest properties in the United States.
We started Jetty with a mission to help busy renters get into new homes by making it easier for them to overcome obstacles and risks.
Before Jetty, renters faced a bunch of landlord requirements with not-so-attractive solutions: obtaining renters insurance, posting an expensive security deposit, and finding a guarantor. The process was archaic, expensive, and time-consuming for consumers, and it wasn’t helping property managers close leads. In building Jetty, our goal was aligned with both of these constituents: help renters get into their new place with ease.
Before explaining how we were able to help bring this solution to Stuy Town, here’s a brief refresher on our products:
1. Renters Insurance
Lightning fast to obtain and the most competitively priced option on the market, Jetty Renters Insurance is designed to cover the basics, but has also been updated to protect modern renters from today’s risks and realities. Like bedbugs. Or the replacement cost of a smashed smartphone screen.
2. Passport Deposit
Instant savings and instant relief for renters who can swap an entire security deposit amount for a small, one-time fee (just 17.5% of the entire security deposit amount). Tenants approved for a building are approved for Jetty Passport Deposit; meanwhile, we’re approved by the world’s largest re-insurer. A small amount for a large sense of security.
3. Passport Lease
The fastest way to avoid hitting up your rich Aunt Linda, by replacing the need for human guarantors with an institution. Just 5-10% of one’s annual rent (depending on credit score). Jetty handles any rent loss to the building and gives leasing agents a permanent vacation from administrative headaches.
A 25,000-tenant Guinea Pig
Turns out, when you’re backed by a globally renowned institution and your products provide clear benefits to renters and leasing agents, one of the biggest properties in the U.S. is willing to give you a shot at helping optimize their operations.
We were really excited by the opportunity to be working Stuy Town, a company known for its forward-thinking mindset regarding an array of technologies that can simply make things better. Those run the gamut from from their new solar panel program, one that will triple Manhattan’s capacity to generate solar power, to unlocking massive time and cost benefits for tenants and leasing agents alike with Jetty’s products and technology.
We started by focusing on improving these three areas on their behalf:
- The resident experience
- The leasing agent experience
- The property management experience
The Resident Experience
Driving and converting leads comes from relating to your customers. And at Jetty, relating to modern renters is what we do, because it’s who we are. Our insurance products and our platform were built and designed by people who have felt the pain of renting themselves and wanted to fix their own problem.
Here’s what we’ve come up with:
1. We Advertise
Throughout September 2017, Jetty covered different New York neighborhoods with outdoor advertising that told a story every New York renter could relate to. The billboards resonated, driving significant traffic to a custom Stuy Town landing page and ultimately their leasing office.
2. We Explain
There’s no higher-intent moment than in the leasing office. We gave leasing agents gorgeous and informative brochures that they felt good about keeping on their desks, and handing over to anxious consumers in need of help. With them, leasing agents were able to provide something that’s easy to understand and offered a solution in a matter of moments.
3. We Convert
People purchasing one or more Jetty products from their smartphone, right in the leasing agents’ office, was the best in-person proof of concept anyone could ask for. Consumers who were shown Jetty Passport Deposit and Jetty Passport Lease were qualified in moments, received instant savings, instant freedom from worry, and instant access to their new place at Stuy Town.
The Leasing Agent Experience
We’ve quickly learned who our best friends were: Leasing Agents. They’re the gatekeepers who want to get people in their new place. Jetty gives agents what they need to help busy renters easily meet landlord requirements. Here’s how:
1. We Educate
We set up multiple on-site training sessions to help leasing agents best understand how Jetty products could help renters overcome obstacles. We went over the product details, came up with the best answers to the most frequently asked questions; and we never left agents unprepared, making sure they always had detailed information to reference as needed.
2. We Integrate
Literally. We created sticky notes that we personally helped agents affix to the physical pages of a lease. We didn’t want anyone losing sight of the Jetty option for even a second.
Keeping Jetty top-of-mind for renters, means we’re adding them to our partner’s bottom line.
Ask for your sticky pad today.
3. We Encourage
Together with the leasing agents, we created an automatic weekly email that tracks how many residents get into the building using a Jetty product. Once met, there’s a party, where we set the next milestone goal and start planning the next party.
4. We Bribe 🙂
Cookies, donuts, bagels, coffee, we provided support in the form of service or sugar. Whatever it takes to keep people happy and energized, Jetty will serve it up on a platter or platform.
The Management Experience
Compliance is our middle name, and helping Accounting departments erase hours of administrative headaches is our game. A single click leads to a single screen where Jetty shows the full details of a property manager’s compliance portfolio, down to individual tenant information. We keep track of the products purchased, dates of expiration, notifications sent, and whether someone cancels. Asked if we could remove this operational obstacle: done.
Early Results
To date, Stuy Town tenants have saved an average of $3,500 each, using Jetty products. And what has us the most excited is the feedback we’ve been receiving from the management team, leasing agents, and most importantly—customers.
Management Feedback
“What Jetty does is make it easy for our team to quickly customize a solution for our tenants, saving our team time and the resident money. Everyone wins.” — Kelly Vohs, Chief Operating Officer, Stuy Town Property Services
Customer Feedback
“I think Jetty has a really cool website and it was easy for me to read. The service is great and efficient. Because of Jetty, I can get into my new apartment easier and faster! Great experience, and thank you again.”— Hongxi C. design student
“The leasing agent at Stuy Town was super helpful, showed me Jetty and I was done in about two minutes. Honestly, it was almost too good to be true: I saved about $4,500.”— Matt A. credit analyst
You in?
We’re working with many of the largest property managers across the country because they’re eager for any competitive edge that increases their attractiveness to qualified tenants.
And they think working with Jetty is the best way to do that.
We think so too.
#ReadyToJetty? Get in touch: partners@jetty.com
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