What is the Alcove listing and leasing process?

The journey from listing your home, lease-up and getting paid

1) Listing

  1. Alcove provides a rental estimate based on thousands of contracted roommate leases
  2. You’ll complete our listing consent form and provides information access and availability date
  3. Alcove field rep verifies the home via an in-person inspection 
  4. Alcove field rep creates a marketing material package of photos, videos and virtual tours
  5. Listing is live!

2) Getting applicants

  1. Alcove in house leasing team handles all inbound leads and applications
  2. Each applicant completes a credit, income, background and eviction check via Transunion on our platform and has to meet our requirements.
  3. If an applicant is approved by Alcove, you will receive a notification via email and text. 
  4. You have the final right to approve each tenant, and can view the screening reports in the manager portal. 

3) Approving applicants

  1. Once you’re ready to move forward with Alcove, simply click the approve and sign button, which will take you to your lease. We are available for questions at any time on owner@alcoverooms.com
  2. Once you sign the first bedroom lease on the platform, a lease is then sent to the tenant. 
  3. As soon as the first bedroom lease is countersigned by the tenant, you’ll be officially contracted with the roommate and with Alcove. 

4) Onboarding and set-up

  1. The homeowner team will guide you through the setup process for utilities, wifi, and furniture.

5) Lease up

  1. On average, Alcove fills your home within 15-25 days of the 1st bedroom lease being signed.
  2. Like the first one, the remaining bedroom leases will be signed on the manager portal 

6) Managing your home and getting paid

  1. Rent is paid automatically via our integrated Stripe system (same payment technology used by Uber, Airbnb, Amazon and more)
  2. During lease-up, rent is paid on a prorated basis for the number of bedrooms that are filled. I.e if 2/4 of rooms are filled. 50% of rent is due. 
  3. After lease-up, rent is paid in full automatically for each bedroom lease on the 1st of each month.