Lease Flexibility Coverage is a new financial technology product from Cios that gives your residents flexibility to move any time, for any reason, while protecting you from the costs of delinquent break fees and extended vacancies arising from early lease breaks.
Join leading property management companies in reducing losses and improving revenues by enrolling your properties for coverage.
Lease breaks are more frequent than you think, with almost 8% of leases from 2019-2023 ending prematurely before the signed term.
With our 10% revenue sharing program, you can earn an estimated $17,719 per year by enrolling your 200 unit property for coverage.
Lease breaks are costly, between the ~8% delinquency risk on break fees and the $6,801 in vacancy costs at $1,943 monthly rent.
Cios is a financial technology company that gives renters the flexibility to move any time for any reason, while reducing losses and improving revenues for landlords.
We believe that everyone deserves the flexibility to move when they need to. Yet we also believe that this doesn't have to come at the cost of your cash flow, occupancy, and property performance.
By enrolling your properties for Lease Flexibility Coverage, you can deliver an exceptional resident experience while simultaneously reducing risk and creating new revenue streams. It's a no-brainer.
We've made it simple for you and your residents to get started with Lease Flexibility Coverage.
There's no new software to train your staff on, or additional admin work for your team. Our proprietary software integrates with your existing software platform and processes to make enrollment a breeze.
Once you've enrolled your properties for Cios coverage, residents will be able to sign up and create an account by themselves through our online portal at app.getcios.com.
Once residents have signed up and verified their identity, they can purchase a coverage plan for the duration of their lease, with options for one-time or monthly recurring payments.
Residents can request a move at any time through their Cios account. If they're in good standing, their move will be approved and they'll check out online through our app.
Once residents have moved out, we'll automatically set up payouts for the remainder of their lease, for up to six months rent. This includes the return of any signing incentives.
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Life happens and people need to move early for good reasons, but it shouldn't cost them or your bottom line.
Lease Flexibility Coverage from Cios covers residents for up to six months of rent if they need to move out early for any reason, from job relocations to college transfers. Give your residents peace of mind without compromising on your bottom line performance.
