Tech startup Pinata is changing the game with regards to renter-landlord relationships
NEWARK, NJ / ACCESSWIRE / June 15, 2021 / The relationship between renters and landlords has long been a contentious and tenuous one. Renters often feel pressure to provide rent payments on time solely to avoid upsetting the landlord, and landlords feel that they have no option but to keep this pressure on their tenants to ensure timely payments. This describes the extent of the relationship, and things became even worse during the Covid-19 pandemic of 2020. However, a new startup, Pinata, led by the company's CEO Lily Liu, feels that the relationship between tenants and property managers do not necessarily need to be of an "us vs. them" nature. She sees the need for change. The transactional basis of a typical renter agreement needs to include more incentives for renters than just keeping in the good graces of the landlord. Additionally, landlords should be able to extract more from the relationship than just on-time rental payments.
Pinata has found the solution to this problem, and the company is making waves in the housing and rental markets. As the pandemic continues to exacerbate the rental crisis and cause renters' credit scores to plummet, Lily Liu sees an opportunity for renters and landlords to shift their relationship from purely transactional to more hospitality-based. In order for this vision to come to fruition, Pinata users who pay their rent on time and in full throughout the month of July, have this information reported to the three major credit bureaus. This will lead to improved credit scores for renters, while simultaneously increasing renter retention and on-time payments for landlords. Additionally, landlords can create custom incentives for renters to sweeten the deal even further. Lily Liu sees this as a "win-win" situation for the landlords and renters alike.
Liu summed up the mission of Pinata concisely in the following statement: "Renters are able to have their biggest monthly expense, their rent payment, reflected in their credit report. If renters are paying rent on time, this can lead to a credit boost, which renters deserve for paying on time." She went on to say: "Renters will generally see an average of a 40-point boost (in credit score) if they pay on time. It can be higher, based on other credit factors and the duration of rent reporting."
Anyone interested in obtaining more information about anything included in this release or for press inquiries are encouraged to contact Blair Nicole by email at [email protected]
Lily Liu, the CEO of Pinata, has been a powerful force of change in various fields since 2007 when she started working in local government. Since then, she has sought to improve the world of renter-landlord relationships by shifting the focus from simple transactions to hospitality-based relationships. She received her master's degree from Carnegie Mellon University, and in 2017 she was recognized as one of Forbes' 30 under 30 Top Entrepreneurs. You can learn more about Pinata on their website: www.pinata.ai
Media Contact:
Company: Piñata Global, Inc.
Contact Person: Blair Nicole
Email: [email protected]
Website: https://www.pinata.ai/
Address: 28 Clinton Street
Newark, NJ 07102
Facebook: https://www.facebook.com/pinatarewards/
Instagram: https://www.instagram.com/pinata.ai/
SOURCE: Piñata Global, Inc.