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House rent billing format for Technical Support

hi I'm Christa and this is Tony we're here to help you be a better landlord so Tony you are the head of customer operations over at livable correct livable is one of the wonderful companies that turbo tenant partners with we're so grateful for everything you guys do providing a seamless integration of Premium rent splitting Services which is a long way of saying that you guys help tenants but how do you do that what is liable well yes thank you we're happy to hear that turbo tenants excited about the partnership we love to hear that liable is a financial platform that allows tenants to free up their cash flow and the way that we do that is by offering tenants the ability to split the rent with liable and have multiple installments throughout the month uh the best thing about this is that for landlords this is ensuring that their tenants are paying rent on time so you can really think about it as like a tool to um avoid late fees avoid late payments it's always a headache to have to Hound a tenant for a rent payment especially if you're waiting on making a mortgage payment or something like that so we really kind of reduce the friction for landlords and tenants uh by giving tenants that Financial breathing room that they need and enhancing that relationship between landlord and tenant beautiful okay so the tenant has the flexibility to pay rent when they need to but the landlord still gets that rent on time and in full exactly yep that's pretty cool yeah so how do tenants qualify yeah great question so we have an underwriting process um what we do is once a tenant signs up they have to actually link their bank account information our underwriting model has been trained over many years uh and but we look at multiple different factors such things like cash flow uh transaction history debt management overall kind of financial status and health but what's cool is that we don't rely on credit scores or credit reports really so from a tenant stand point that can be helpful in in certain cases um but that's also kind of ensuring that a landlord's tenants are eligible for the credit limit that we're able to provide them beautiful and something that we talked a little bit about off camera is the fact that you guys actually report rent payments and we've had landlords asking you know when rent reporting comes up are late rent payments being reported as well can you speak a little bit to how livable treats rent reporting sure absolutely yeah so part of our mission is to enhance that tenant experience as I said so we also report ontime payments to Experian right now um and hopefully in the future we'll be able to report to other credit bureaus so tenants that are splitting rent with liable and pay their installments back on time those payments get reported to the credit bureaus allowing the tenants to build credit nicely and easily from a late payment standpoint uh if so if a user makes it through the entire month that they split rent for and they weren't able to pay us back um unfortunately we are going to be reporting that type of delinquency to the credit bureaus but for landlords I think that's helpful because that kind of gives them a better bird's eye view of you know their their rent payment history when they're selecting tenants absolutely yeah and funny enough bringing up the landlords and how they benefit from that red reporting I'm curious what other benefits do landlords see when their tenants use liable it's a great question so I think overall they're just seeing a lot more ontime payments right a lot of happier tenants because they're not having to charge them a late fee which never is fun for either side I would imagine and overall like I said just an enhanced landlord tenant experience so in instead of a tenant having to reach out to a landlord and kind of fighting like hey can I get another 5-day grace period or something like that using liable kind of removes all that friction and that unnecessary communication and and just makes both sides a lot easier overall yeah really stre lines the relationship it yes we love to see it exactly yeah cool so it sounds like plenty of benefits for both landlords and tenants I'm curious do you or liable have any case studies or data points regarding happy customers yeah absolutely so looking at the retention data we see about 70% of our users returning to liable after more than 6 months um and I think that that metric right there really goes to show how reliable and trustworthy our service is of course course we're still growing so we're hoping to see that 70% turn into 90% turn into 100% for landlords though I think that they should be looking at that metric and and understanding that you know this is something that really allows landlords to avoid Mis payments or late payments right as far as like case studies go uh there was one woman that we talked to it was a landlord who actually reached out and her name is Siobhan and she said that she's been using us for a couple months and was just really impressed with how it increased her relationship with her tenants I believe she had two tenants using liable which was awesome and she was really impressed with the customer support that she was getting which I love to hear but overall I think that you know we we do see a lot of these types of folks reaching out and just expressing gratitude for what we offer cuz as you said earlier it streamlines the process um in such an easier way for for both sides and really anything that benefits both the landlord and the Tenant personally I'm a fan of I know turbo tenant is a fan of so great partnership awesome I'm curious do you have any recommendations for landlords who are really excited about this service and want to tell their tenants about it yeah definitely so first and foremost I think it's best if a landlord introduces liable when a tenant is signing a lease right as part of that introductory kind of conversation of course they can do that if they're in the middle of a lease too but I think uh to set a tenant up with these expectations while signing a lease it's a really cool service that maybe most tenants aren't used to what I would say if I was a landlord to my tenant would be something like hey livable allows you to split your rent into manageable payments that fits your budget but rest assured I'll still receive rent on time and you know I won't have to charge you a late fee so I think again it it really kind of demonstrates that win-win on both sides I mean beautiful yeah we love to hear it is there anything else you'd like to say to landlords out there who are curious about liable or enabling this for their tenants sure I think in general for landlords you know hopefully you're using turbo tenant as it's by far the best PMS out there I think but I would say that um for any landlord you know liable really does offer such a a unique experience for tenants and if you're a landlord that cares about your tenants which I hope every landlord does this is a great way to you know allow them to build really meaningful credits um just free up their cash flow and just have kind of an easier lifestyle um and if I can speak to you know like an integration with turbotenant for example I think what's really a key takeaway for for Turbo tenant uh from what we've discussed is that with our service we we really have built a pretty comprehensive service and we've done all the heavy lifting so from compliance and Regulatory management to risk mitigation and the customer support we handle all that so it allows turbo tenant to offer a really cool service that they don't you know turbotenant didn't have to put years of Dev bandwidth into and so we take on that heavy lifting and it's just you know through a fully integratable system we can uh offer some cool services to tenants I mean and they are very cool Services well thank you love to hear it of course Tony thank you so much for your time and landlords if you have any questions about premium Brent splitting what that looks like how it could benefit you please drop them in the comments down below and don't forget to like And subscribe [Music]