Renters and property owners and operators share one thing in common right now: They are overwhelmed with too many apps charging too much. Or doing too little. And most of these apps don’t drive returns.
That’s why we’re thrilled to announce the launch of Stake1 and Stake Credit Builder — the first-ever renting and banking super app that builds renters’ wealth, while reducing costs for property owners.
Read all about it in Forbes and Inman.
Stake1 empowers property owners and operators to address renters’ financial needs in one place at one low cost. Renters boost their credit with Stake’s new Credit Builder, which reports on-time rental payments to credit bureaus, receive Cash Back on every purchase, and access free banking services. Property owners and operators pay just $12 a year per door to give residents an average of $2,000 in value.
With Stake1, owners and operators give their residents access to the following:
- Stake Visa® Debit, a first-of-its-kind, no-fee debit card
- 5% Cash Back for the first three months after move-in
- 2% Cash Back for paying rent with the Stake Visa Debit card
- 1% Cash Back forever on all Stake Visa Debit purchases
- A free Stake Visa Debit FDIC insured checking account with no minimum balance and no overdraft fees
- Express Paycheck to access paychecks up to two days sooner
- Direct deposit functionality so residents can put all or part of their paycheck into their Stake checking account – and continue to earn Cash Back
- Credit Builder, reporting renters’ on-time rent payments to major credit bureaus and boosting their credit scores
Here’s what Ian Bel, Managing Principal and CEO at Olive Tree Holdings says about Stake1:
“With current market conditions, we are assessing every cost to see how we can support our communities and residents while maintaining consistent financial performance. Many other existing amenity apps increase fees for properties and are confusing for renters. Stake1 gives renters a single login to build savings and improve their credit at one low cost for the property. This allows renters to build wealth without increasing their debt -- a unique mission driven value proposition that we love about Stake."
Stake has already proven that Cash Back can empower renters to save, and now we are empowering them with better credit, too. Bundling these banking services into one app means increased renter engagement and wealth, and reduced property owner costs.
And that’s what we call a win-win.
