Use Otso to Drive More Value in Every Lease…
Whether to drive new leases on vacant space or incentivizing early renewals while boosting tenant
happiness...Otso Guarantees drive real results in any commercial real estate asset.
Up to $50,000 Approved in Minutes
Your prospective and existing tenants will experience a seamless, friendly application process.
Your Decision on Every Deal
You hold the decision on which tenants apply and which guarantees you decide to move forward with...every guarantee is customized.
Imagine taking $1M in dead capital off your books and turning that into additional base rent while reducing your risk. Yea…it makes that much sense. That’s why we partnered with Otso as soon as we got introduced to the concept.
Whether you have one vacancy or an existing building with 80+ Tenants we can help you drive additional rents with less risk and complexity. Otso is 100% Free to join, get started today.
Cash deposits are wasteful, costly and slow down leasing. Otso brings an industry-first solution through our guarantees to attract and retain tenants for your commercial buildings. Use Otso as much or as little as you need and it’s free to join.
- Offer new, or existing Tenants Otso Guarantees up to $50,000
- With every application submitted, you’ll get key information on a businesses’ financial status including banking history for their business.
- Documents are simple, fast and all electronic so your deals happen faster.
Scaleable to You
Leverage Otso in Any Building...at Any Point in a Lease
Capitalize on the power of marketing to potential tenants as “deposit-free” building. Allowing businesses to keep more of their working capital up front is a serious advantage in deal-making.
When you/your leasing agent or property manager tour one of your vacancies/spaces with an interested prospect we recommend the following:
- Instead of sending them a “draft” or “TBD” proposal, which just kicks the can down the road on financial assessment and negotiations… simply send them your custom application URL for your building.
- The application process will take them less than five minutes and if approved, they may be eligible for up to $50,000 in deposit guarantees.
- At that point simply negotiate and sign!
It’s that simple. Seriously.
For renewals, we suggest offering the return of a security deposit on file. Let’s say a Tenant has $10,000 up currently and is about to complete a 5 year term (almost 4 years in). Imagine reaching out to them in the following scenario:
- With 6-18 months of remaining term, you can simply call or email your existing Tenant with an offer for early renewal, sweetened by the return of their $10,000 on file. Include the application link for your building in that initial correspondence. Invite them to apply for whatever that existing deposit is.
- Just like with any new prospect, their application submission gives you a current and historical snapshot of their banking history and they can be approved for up to $50,000.
- When approved, simply send them a renewal proposal with the Otso Guarantee built into the deal. Negotiate and execute docs just like you would in a new lease.
Cash talks, and giving your Tenants dollars back in their pockets at renewal time is a major incentive and advantage.
We’ve heard you, many Landlords are interested in just getting the security deposits they have on file “off the books” and into a more modern and better program for their tenancy. For those looking to retrofit an entire building here is how we suggest going about it.
- We (or you) can provide a template of an email to survey your existing tenancy on a variety of issues on their lease experience (here is an example). One of the questions relates to returning their security deposit early and whether they would be willing to accept a small increase in rent and/or renew early if applicable.
- For Tenants who respond in the affirmative, we recommend the leasing agent reach out to them and provide the application link. Invite them to apply for whatever that existing deposit is.
- If approved, you simply amend your lease with a quick document (approved by your attorneys) to replace the existing deposit language with the Otso Guarantee as a new lease exhibit.
Sign docs and return the cash deposits. Once we receive the lease the guarantee goes live. You’ll be able to manage all of your existing applications, guarantees and statuses through our “quick links” area in the Otso web application as well. Imagine turning all of that wasted capital in security deposits into more rent with increased term, while increasing happiness and retention in your assets!
However you plan to use Otso, we can help make your building lease faster and stay leased longer. Otso is 100% free to join, let’s get started!
Curious about how we reimburse in default situations? We have you covered.