What LeaseLock does

LeaseLock is a Dallas-based insurance technology company founded in 2016 that provides deposit replacement insurance for the U.S. multifamily rental housing industry. Its flagship product, Zero Deposit™, replaces traditional upfront security deposits with a lease insurance policy that protects property owners against unpaid rent, property damage, pet damage, and eviction costs, while removing financial barriers for renters at move-in. The company sells exclusively to enterprise property management companies and operators through direct partnerships, integrating its solution into existing property management systems (PMS) via a signed addendum that eliminates the need for a separate renter application. LeaseLock holds Texas surplus lines insurance licenses and operates through two wholly-owned subsidiaries, LeaseLock Insurance Services, Inc. and LeaseLock Technology Services, Inc.

LeaseLock's technology stack centers on LeaseLock Shield™, an AI-powered underwriting platform that analyzes structured property and market data—including financial records, property characteristics, claim history, geographic factors, and risk profiles—to predict property-level risk and optimize coverage terms. LeaseLock Central™ is a centralized dashboard for claims management, support, onboarding, and training, with claims paid within 48 business hours. An optional Credit Building module, powered by partner Esusu, reports on-time rent payments to all three major credit bureaus. The company also publishes Market Insights research authored by Chief Economist Greg Willett.

The company generates revenue through lease insurance premiums paid by property owners and operators under custom, multi-year contracts priced to each property's risk profile, with coverage backed by A-rated insurance carriers. As of recent disclosures, the platform has cumulatively insured $16 billion in leases, covers more than 5 million units across all 50 states, and reports that 91% of residents prefer $0 deposit communities. LeaseLock has raised approximately $63.5 million in disclosed funding, with its largest round being a $52 million Series B in February 2021 led by Westerly Winds and Wildcat Venture Partners.

Name

LeaseLock

Legal name

LeaseLock, Inc.

Website

https://leaselock.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

LeaseLock is a Dallas-based insurance technology company that sells deposit replacement insurance to U.S. multifamily property owners and operators, using AI-powered underwriting to replace traditional security deposits with comprehensive lease insurance coverage.

Ownership category

akta.pro rank

Product category

Insurance Technology

NAICS

Commercial and Industrial Machinery and Equipment Rental and Leasing (5324)

akta.pro primary industry

Renters Insurance (FSAJACAB)

Keywords

• Rental lease insurance
• Deposit replacement solutions
• Multifamily insurance technology
• AI underwriting platform
• Renter credit building

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Lease Insurance Premiums: LeaseLock generates revenue through lease insurance premiums paid by property owners and operators. The insurance provides coverage against unpaid rent, property damages, pet damages, eviction costs, and more. Coverage is backed by insurance carriers rated A (excellent). Pricing and coverage options are tailored to each property's specific needs.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

LeaseLock provides AI-powered lease insurance that replaces traditional security deposits for the multifamily rental housing industry. Its Zero Deposit™ product eliminates upfront deposits for renters while providing property owners and operators with comprehensive coverage against unpaid rent, property damages, pet damages, and eviction costs. Coverage is delivered through subscription-based premiums backed by A-rated insurance carriers and priced per property.

Product overview

LeaseLock is a rental housing insurance technology platform organized around a single core product (Zero Deposit™) supported by a technology layer (LeaseLock Shield™) and an operational platform (LeaseLock Central™). Zero Deposit™ is the flagship deposit replacement insurance product that eliminates traditional upfront security deposits for renters and provides coverage against bad debt, damages, and eviction costs for property owners. LeaseLock Shield™ is the AI-powered underwriting engine that analyzes property and market data to predict risk and optimize coverage for each property. LeaseLock Central™ is the customer-facing dashboard for claims management, account management, and training. An optional Credit Building module, powered by partner Esusu, enables rent reporting to credit bureaus. The company also publishes Market Insights, a research and analytics content series authored by Chief Economist Greg Willett covering multifamily market trends.

Differentiator

Problem solved

Functional benefit

Brands

• Zero Deposit: Deposit replacement program that eliminates traditional security deposits for renters while providing lease insurance coverage for property owners.
• LeaseLock Shield
• LeaseLock Central
• Market Insights
• Credit Building

Products and services

• Zero Deposit™

Quantifiable outcome

• 6% increase in applications
• +5 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• EsusucoreStrategic or Co-development PartnerEsusu partnership provides credit building solution for renters. Reports on-time rent payments to all three major credit bureaus. Renters don't need credit cards or loans to build credit. Operators see stronger retention with rent reporting. Up to 24 months of past rent included. Only positive payment history is reported.
• NMHC (National Multifamily Housing Council)coreStrategic or Co-development PartnerLeaseLock engages through RETTC (Real Estate Technology & Trends Council), an NMHC thought leadership initiative focused on emerging technologies, risk innovation, and industry-wide transformation through data, digitalization, and security.
• NAA (National Apartment Association)coreStrategic or Co-development PartnerNAA supports the apartment housing industry through advocacy, education, and resources that enable operators and suppliers to thrive and serve communities effectively.
• NRHC (National Rental Home Council)minorStrategic or Co-development PartnerNRHC advocates for single-family rental housing providers and advances policies that support renters and responsible property owners.
• Multifamily Impact CouncilcoreStrategic or Co-development PartnerLeading charge on measurable ESG standards for rental housing and encourages responsible, people-centered investment practices.
• GRESB (Global ESG Benchmark for Real Assets)coreStrategic or Co-development PartnerGRESB provides validated ESG performance data and peer benchmarks for real estate investors and managers to drive transparency and sustainability across the sector.
• RETTC (Real Estate Technology & Trends Council)coreStrategic or Co-development PartnerThought leadership initiative of NMHC focused on emerging technologies, risk innovation, and industry-wide transformation through data, digitalization, and security.
• National Suppliers CouncilminorStrategic or Co-development PartnerPromotes collaboration between service providers and rental housing operators, ensuring supplier voices are heard in regulatory and strategic conversations.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Rhino: Rhino is a direct competitor offering deposit replacement and bond alternatives for renters. Like LeaseLock, it eliminates traditional security deposits through an insurance-backed product and serves the multifamily rental housing market with a B2B go-to-market.
• Jetty: Jetty provides deposit alternatives, renters insurance, and lease guarantees to property managers and renters. It is one of the closest direct competitors to LeaseLock in the deposit-free leasing category, particularly for multifamily and student housing operators.
• TheGuarantors: TheGuarantors offers lease guarantor services and renter's insurance products to multifamily operators and renters. It directly overlaps with LeaseLock in the property-manager-facing insurance and risk-transfer value proposition.

Broad incumbents

• Assurant (SureDeposit): Assurant is a large incumbent insurance provider that owns SureDeposit, a leading surety bond-based deposit alternative for renters. It competes with LeaseLock in the deposit-replacement space as part of a much broader insurance and protection product portfolio.
• RealPage: RealPage is a dominant multifamily property management software platform that LeaseLock integrates with. Several LeaseLock executives (CEO, CTO) came from RealPage. While not a direct deposit-replacement competitor today, RealPage could disintermediate LeaseLock with a native alternative.
• Yardi: Yardi is a major property management software suite for multifamily operators. As a PMS platform, it is both a distribution partner for LeaseLock and a potential competitor if it bundles its own deposit-replacement or surety solution.
• AppFolio: AppFolio provides property management software for residential and multifamily operators. It is both a PMS integration partner for LeaseLock and a potential adjacent competitor in resident-facing financial products and insurance.

Emerging players

• TransUnion SmartMove: TransUnion SmartMove offers tenant screening and renters insurance products to property managers and renters. It is an emerging competitor in the renter-facing insurance/verification space that overlaps with parts of LeaseLock's resident-focused value proposition.
• Snappt: Snappt provides AI-powered fraud detection and income/identity verification for rental applications. While not a direct deposit-replacement competitor, it addresses adjacent risk and screening pain points for the same property manager customers LeaseLock serves.

Others

• Esusu: Esusu is LeaseLock's credit-building partner that reports on-time rent payments to credit bureaus. It is an ecosystem partner today but also an adjacent proptech that targets the same multifamily operators and could expand into broader resident financial services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/leaselock
• Instagraminstagram.com/leaselock
• Xx.com/leaselock
• Facebookfacebook.com/leaselock

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors23 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LeaseLock