What is the ReLease Platform?

The ReLease Platform

The ReLease Platform is a financial technology solution offering Cancel For Any Reason (CFAR) benefits designed to complement—not replace—common tenant insurance products.

ReLease is not tenant insurance, security deposit replacement insurance, or lease guarantor insurance, and it does not replicate their benefits. Instead, our CFAR products work independently alongside these types of insurance, which can be purchased separately through third-party providers.

What Is Cancel For Any Reason (CFAR)?

ReLease’s Cancel For Any Reason products provide renters with the freedom to cancel their lease agreements and move out anytime, at their discretion, within the coverage window. This benefit is offered through partnerships with building management as part of your lease agreement.

CFAR does not:

  • Replace tenant insurance.
  • Cover damages to your unit.
  • Guarantee payment of unpaid accounts to your landlord.

Instead, it provides:

  • ‍Flexibility: Move out anytime without penalty for any reason.‍
  • Convenience: Access services and support through an online self-help portal or ReLease customer support.

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What Is Tenant Insurance?

Tenant insurance protects renters from risks related to their rental property, including:

  • Loss or damage to belongings (e.g., fire, theft, or natural disaster).
  • Liability coverage if you’re sued.
  • Relocation costs if your home becomes unlivable.

Claims are typically filed with the insurer and require evidence of loss and proof of coverage.

ReLease does not sell tenant insurance.

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What Is Security Deposit Replacement Insurance?

Security deposit replacement insurance protects landlords from:

  • Damages caused by tenants.
  • Unpaid rent.

It eliminates the need for a traditional upfront deposit but requires tenants to reimburse the insurer for claims paid on their behalf. Claims must be filed with the insurer, supported by evidence.

ReLease does not sell security deposit replacement insurance.

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What Is Lease Guarantor Insurance?

Lease guarantor insurance covers landlords for unpaid rent and legal costs related to eviction, replacing the need for a co-signer. It requires landlords to follow collection procedures, and tenants must reimburse the insurer for any claims paid.

ReLease does not sell lease guarantor insurance.

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Comparing ReLease to Common Insurance Products

ReLease CFAR

Allows tenants to move out and cancel their lease at their discretion. Does not cover damages or unpaid accounts.

Tenant Insurance with Relocation Coverage

Covers relocation costs if your home becomes unlivable due to unforeseen events. Does not allow voluntary moves.

Security Deposit Replacement

Covers damages or unpaid rent for landlords. Does not reimburse lease buyout fees or early termination penalties.

Lease Guarantor Insurance

Covers unpaid rent and legal costs for landlords. Does not allow voluntary lease termination.

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Summary: ReLease is unique in providing tenants with flexibility to move out anytime, without requiring unforeseen circumstances. At the same time, it protects landlords by minimizing financial risks from early lease terminations.

Note: This page provides general information about ReLease Flexible Renting products and does not constitute legal or insurance advice. For insurance-related inquiries, consult a licensed professional.

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