Los Angeles: Short-term furnished, corporate housing company StayTony has introduced its technology-enabled affordability platform in order to offer renters the means to finance the balance of their rental, at a minimum price of $237.
The company, led by founder Tony Diamond, claims to be the first of its kind to release such an offering, having sought to combine high-end hotel-style design with a key location at an affordable price.
Diamond said: “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 neighbourhood, within steps of the most sought-after restaurants, retail and nightlife.
“Now guests will also have the best and most flexible options to pay,” he added.
StayTony is offering guests the opportunity to pay for their short-term rentals with a duration of between one and three months without taking into account interest for the first six months, and with no security deposit required.
The firm has partnered with AI-driven financing and technology company, Uplift, to create the platform, which will provide Pay Monthly options to ensure consumers can book new travel experiences easily.
Diamond said: “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 ten 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,” he added.
The aforementioned initial payment of $237 is the minimum price for which qualified renters can move in, which will take away one of the most significant affordability barriers.
StayTony wants its platform to be a game-changer for the short-term rental industry, whereby renters will now be guaranteed a higher quality of accommodation with lower expenses being paid out in a desirable but affordable geographic location.
This will be particularly good news for recent university graduates who are relocating to a new city for a job, entrepreneurs who move between multiple cities and travelling medical or business professionals.
Diamond said: “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,” he added.
For more information, visit the StayTony website here.