Up&Up
Up&Up allows renters to build wealth through an Up&Up Wallet instead of a traditional security deposit, sharing in rental profits and home value appreciation, with options to renew, purchase, transfer, or cash out at lease end. Operating in several U.S. cities, Up&Up offers leases starting at 2 years and has raised over $300M from investors.
Services
Up&Up offers a unique renting experience where traditional security deposits are replaced by contributions to an Up&Up Wallet. Renters can benefit from rental profits and the appreciation of their rental home's value. At the end of a lease, options include renewing the lease, purchasing the home, transferring the Wallet balance to another rental, or cashing out for 90% of the Wallet's value. The leases start at a minimum of 2 years, and renters can make additional contributions to their Wallet at any time to increase their share in rental profits.
Operating Locations
Up&Up operates in several key markets across the United States, including Charlotte, NC; Huntsville, AL; Indianapolis, IN; Atlanta, GA; and St. Louis, MO. These locations provide a range of housing options for renters looking to benefit from Up&Up's innovative rental model.
Investment and Funding
Up&Up has secured over $300 million in debt and equity from leading venture and real estate investors. This substantial funding supports its mission to provide renters with opportunities to build wealth through their unique business model.
Up&Up Wallet
The Up&Up Wallet is a pivotal element of the company's service offering. Instead of a traditional security deposit, renters make an initial contribution to their Wallet, typically at 2x the monthly rent. Renters can also make additional contributions at any time. The Wallet grows through rental profits and appreciation of the property's value, and recommendations suggest a minimum of $50 monthly contributions to accelerate growth. At lease end, renters can renew, purchase the home, transfer the Wallet to another rental, or cash out for 90% of its value.