Jetty Announces Jetty Pet, The First Pet Deposit Replacement Offering
New Offering Complements Jetty Deposit to Increase Protection and Save Renters Money
Jetty, a financial services company on a mission to make renting a home more affordable and effortless for everyone, today announced a new offering, Jetty Pet. Jetty Pet is Jetty’s pet protection for property managers, which can be used alone or combined with Jetty Deposit to replace a traditional up-front pet deposit charge. This can give properties increased coverage against pet-related damages and a more streamlined leasing process–while keeping move-in costs low for the renter.
According to Jetty’s nationwide survey of U.S. renters, more than 70% of pet owners have decided not to apply to a rental home or apartment because the costs to have a pet were too high. This can have a negative impact on the number of qualified applicants at pet-friendly buildings. But without the added protection of a pet deposit, properties risk exposure to pet-related damages and unforeseen expenses, which can cost much more than what a pet fee might cover.
Jetty Pet provides pet-related protection to a rental home, while alleviating the burden of high up-front costs for the renter. With Jetty Pet, renters pay a small, one-time fee to replace a traditional pet deposit. Property managers benefit from marketing a lower move-in cost, filling more units while having the added protection of an admitted, non-pooled product, and generating meaningful ancillary revenue for the portfolio.
Jetty Pet Benefits
- More protection against pet-deposit damages: Pets are capable of causing a lot more damage than what a typical pet deposit might cover. With Jetty Pet, properties can get more coverage without raising move-in costs.
- Lower move-in costs (competitive edge): In addition to eliminating security deposits through Jetty Deposit, Jetty renters can save on costly pet deposits–greatly reducing move-in costs for qualified renters and giving Jetty properties a competitive edge.
- Simplified overhead: Jetty properties benefit from a streamlined operation process. With the addition of Jetty Pet, both deposits are replaced by one small fee. Properties don’t have to worry about managing checks, and there is less confusion for residents.
“We always have an ear to the ground on the fundamental problems our partners face, and how we can solve even more of them,” said Mike Rudoy, CEO and co-founder of Jetty. “Jetty Pet is just another way we give Partners the protection they need, while keeping costs low for the many pet-loving renters nationwide.”
Jetty works with top property managers across the country to increase lease conversion rate, reduce bad debt, and streamline operations—thereby increasing net operating income. Partners include LivCor, Related, Pinnacle, MG Properties, Trammell Crow, Griffis Residential, Cortland, and many more. Jetty’s products are written on A-rated paper, and are admitted in 49 U.S. states and D.C, which means they have been approved by the state’s insurance department providing additional consumer protections.