StayTony allows clients to finance corporate housing stays

George Sell George Sell Uploaded 29 April 2019


US: StayTony says it is the first short-term housing company to launch a technology-enabled affordability platform that allows tenants to finance their rent.

StayTony, led by founder Tony Diamond, says it has "re-imagined the short term corporate housing market by combining high-end design with key geographic location and affordability. By taking a page out of the hotel management model, StayTony has succeeded in changing the rules for how short-term housing is structured". With the launch of its new technology-enabled affordability platform, the company claims it is poised to become the first to offer qualified renters the opportunity to move in for a minimum of $237 and to finance the balance of their rental.

"With this new technology, we are taking our commitment to high-quality design and affordability to a whole new level. One of the biggest pain points for moving to a new city is the huge up-front cost. We will be eliminating that and doubling down on our mission to go beyond the typical, tired corporate apartment - four walls and furniture. When you rent with StayTony, guests get a unique, uniform branded experience. They can expect our locations to be on the best lot, on the best block, and the best street of each respective neighborhood, within steps of the most sought-after restaurants, retail, and nightlife. Now guests will also have the best and most flexible options to pay," said Diamond.

StayTony will be the first short-term furnished, corporate housing company to offer guests the chance to finance rentals of one to three months, without any interest for the first six months, and with no security deposit and only a soft credit pull. The partner for this new platform is Uplift, an AI-driven, point-of-sale financing and technology company offering Pay Monthly options that make it easier for consumers to book and experience travel.

"People already finance one-time life events like weddings, medical procedures, and vacations all the time. We thought, why not finance the life event of relocating to a new city or moving for a temporary job assignment. Based on our latest data, the average consumer loan to finance a one-time event is $8,206. That easily covers a two-month stay at a typical corporate apartment. With our new platform and interest rates as low as 10 per cent, StayTony renters will only need the down payment of $237 to move in followed by 11 monthly payments of that amount, which would cover the cost of a one month stay at our lowest priced apartment ($2,580 per month). Other options, including interest-free financing for six months, are also available for qualified renters. The other big pain point is that renting is typically a clunky process filled with friction at every step. Our new platform is seamless and intelligent, you simply contact and sign the lease," said Diamond.

Qualified renters can move in for a minimum initial payment of $237, removing the greatest barrier to entry for renters - coming up with first and last month's rent and security deposit up front. StayTony says there is nowhere else in the world where you can currently move in for that rate and finance the balance of the rent.

The company says: "This is a game-changer for the industry because renters no longer have to settle for the unknown quality of online platform hosts, where each landlord dictates different terms; pay the high expense of renting a hotel long term; settle for a traditional corporate apartment that lacks the designer touch; or resort to sharing your personal space to make moving to a new city affordable. Recent college graduates moving to a new city for a job, entrepreneurs who want the flexibility and fluidity of working in multiple cities, traveling medical or business professionals and more all now have an option that is affordable, convenient, and of the quality they desire."

Diamond added: "We work with visionary names in interior design, like David McCauley, to create a visceral experience never before seen in corporate apartments. All the furniture is 100 per cent custom made and includes custom decor like Porter Teleo hand-painted wallpaper. From the moment you check-in, your wireless internet and flat screen TV are ready to use and all of the furnishings are present from the designer bed and linens down to the wine glasses and cloth napkins. With over eight years in business and not a single customer service complaint online, we've been relentless in doing whatever it takes to ensure all guests have an incredible experience. This new platform is an extension of that innovation and great customer service because now more people will be able to take advantage of our rentals."

StayTony has locations in Midtown Atlanta, Beverly Hills, West Hollywood, and multiple locations in Hollywood. It plans to expand to every major city in the US.


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