NEW YORK--(BUSINESS WIRE)--EasyKnock, the first home equity solution platform, has forged a partnership with Piñata, the nation's most popular reward and credit building platform for renters. Through this partnership, American renters, and specifically EasyKnock customers, are both rewarded and provided a path to credit worthiness.
EasyKnock gives homeowners a way to convert the trapped equity in their homes into cash and remain in their homes as renters. EasyKnock customers also retain an option to repurchase their homes or direct a second sale for additional cash in the future.
In its first few months in-market, EasyKnock tenants using Piñata have seen their credit score improve by an average of 57 points.* EasyKnock automatically reports Piñata users’ on-time rent payments to the bureaus (late rent payments are not reported), enabling them to build credit each month with TransUnion, Equifax, and Experian. It is estimated that under five percent of roughly 80 million American renters get credit for their rent payments.**
Renters using Piñata also receive discounts and cash back on everyday expenses, rewards for on-time rent payments, access to renters insurance, plus, thousands of dollars in monthly giveaways.
Customers are given access to a platform to track their point balance, redeem for rewards, review their credit score and months of on-time rent reported to the bureaus, and they can earn points for participating in credit education and surveys.
On top of the long-term financial health benefits, EasyKnock customers have also been spending their points on items and experiences that reduce their everyday expenses. Popular rewards include charitable contributions, self-care items, and home goods.
“The benefits and rewards provided by Piñata are game-changing for American renters,” said Jarred Kessler, CEO and founder of EasyKnock. “Partnering with them ensures that our sale-leaseback customers can now improve their financial well-being while earning rewards. It also ensures renters are celebrated and supported in ways that are long-overdue.”
“By teaming up with EasyKnock, we can help even more renters in their quest to improve their financial standing,” said Lily Liu, CEO of Piñata. “In joining EasyKnock on the mission to create more financial flexibility for American families, we can help them reach their goals and ultimately, improve the quality of their lives. ”
*EasyKnock customers who signed up for Piñata saw a credit score improvement of 57 points. This data was measured from November 2023 to March 2024.
** According to The New York Times, Jan 2024
About EasyKnock
EasyKnock is the first-to-market, home equity solutions platform company in the U.S. In 2023, EasyKnock announced the development of its platform, an extensive suite of products and services that will provide consumers alternative ways to buy and sell, finance new homes, and utilize their equity. Headquartered in New York City and founded in 2016, EasyKnock helps U.S. homeowners unlock their financial freedom through non-loan programs. For more information, please visit www.easyknock.com.
About Piñata:
Piñata is the nation’s largest rental membership program on a mission to make renting smarter and more rewarding for tenants and landlords alike. The company, founded in 2020 and led by women of color, offers renters a unique set of financial benefits, including monthly rental rewards and credit-score-boosting opportunities, while also providing a unique amenity for landlords. Piñata has raised $20 million to date from leading Proptech investors led by Wilshire Lane Capital.
