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!
  6. Need to edit listing description info, photos, or floorplan? This can be done directly from the Alcove Manager Portal

2) Getting applicants

  1. Alcove in-house Sales Demand 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 to review their application in your Alcove Manager Portal
  4. You have the final right to approve/deny each Alcove-approved applicant. Applicant screening reports are available to review in the manager portal. Questions on the first applicant? Email owner@alcoverooms.com

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 Alcove Partner Support Team (partner@alcoverooms.com) will guide you through ensuring your property is properly set up and move-in ready for incoming tenants. See here for move-in ready standards
  2. As for furnishings, owners/managers may self-install their own shared space furniture or use Alcove to purchase, manage, deliver and set-up these items at an additional fee. During the onboarding process, there will be an option to select which plan to proceed on the manager portal

5) Lease up

  1. On average, Alcove fills your home within 30 days of the 1st bedroom lease being signed
  2. Like the first lease signed, the remaining bedroom leases will be signed on the Alcove Manager Portal

6) Managing your home and getting paid

  1. Rent is paid automatically via our integrated Stripe system (the same payment technology used by Uber, Airbnb, Amazon and more). See this article on how to connect your Stripe account to your Alcove account
  2. During lease-up, rent is paid on a prorated basis for the number of bedrooms that are filled. Prorated rent is paid on the first day of the lease for each bedroom. For example, if the first tenant lease begins on 06/15/23, then you will receive 50% of monthly rent on that date
  3. After this, future rent payments are always paid automatically via Stripe on the first day of the month for each bedroom lease signed on the property