FAQs | Your Up&Up questions, answered

About Building Your Wealth Getting Started At the End of Your Lease Purchasing the Home

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If you need help or have questions, email success@upandup.co.

About Up&Up

What is Up&Up?

Up&Up is a new way to rent where you share in the benefits of homeownership. When you rent with us, instead of putting down a security deposit, you make a contribution to your Up&Up Wallet and experience the same financial benefits that a homeowner might.

We want you to benefit from the same things we do: rental profits from the home and increases in home value.

What's an Up&Up Wallet?

When you rent with Up&Up, you sign a purchase option agreement ("Up&Up Wallet"), which is a contract giving you the option to purchase your rental home. Your Wallet can grow in three ways:

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1) Contributions you make

At lease signing you are required to make a minimum initial contribution of two months of rent (legally this is referred to as purchasing premium on your option). We do not take a traditional security deposit. Over the course of your lease, you can make additional monthly or one-off contributions - it's up to you.

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2) Shared rental profits from the home

As an Up&Up renter, you will share a portion of each month's rental profits. Those rental profits are added to your Wallet at the end of each month and expand its value.

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3) Increases in your rental home's value

If the value of your rental home increases over the course of your lease, the value of your Up&Up Wallet will also increase like a landlord's might.

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The value of your Up&Up Wallet represents the dollar value of the contributions you've made and any growth they have experienced.

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At the end of your lease, you can choose from several different options including putting your Up&Up Wallet's value towards a purchase of your rental home, transferring your Wallet to another rental in our network, or cashing the value of your Wallet out for 90% of its value.

Why is Up&Up better than traditional renting?

Instead of throwing away money on rent, working with Up&Up is a chance to put your rent payments towards something more. When your lease is up, you can expect to leave with more money than you put down, unlike with other landlords who often make it feel like you have to fight just to get your security deposit back.

What is the difference between Up&Up and rent-to-own?

We're different from rent-to-own in a number of ways.

First, we give you the benefits of ownership from day 1. You make an initial contribution to your Up&Up Wallet at the time when you would normally make a security deposit. This gives you the right to a share of the rental profits from the home every month, and allows you to benefit from any increases in the home's value as the broader market goes up. If your rental home goes up in value, so does the value of your Up&Up Wallet!
Second, you are under no obligation to ever purchase the home. You have the option to transfer your Wallet to another rental in our network or to cash it out at the end of your lease. If you choose to cash out, you will receive 90% of your Wallet's total value.
Third, with Up&Up, you have the option to purchase the home any time at fair market value. Rent-to-own often requires you to “lock-in” a purchase price at the start of your lease, which is often higher than the value of the home at the end of your lease. We don't think that's fair.

Why does Up&Up share rental profits with its renters?

We make money by investing in great homes with great renters. Our business model is built on a basic equation: if our renters treat their homes better and stay longer than the average renter because they get the same benefits we do, we all win.

What cities does Up&Up operate in?

You can work with us in Charlotte, NC; Huntsville, AL; Indianapolis, IN; Atlanta, GA; and St. Louis, MO. Stay tuned - we're launching in more cities soon!

Are there fees to work with Up&Up?

During your lease, we charge you rent and you make contributions to your Up&Up Wallet.

At the end of your lease, if you choose to 1) use your Up&Up Wallet to purchase your rental home or 2) transfer it to another rental in our network, 100% of your Wallet's value will be put towards that.

If you choose to cash your Wallet out, your cash out value will be 90% of your total Wallet value, with the remaining 10% returning to Up&Up.

Building Your Wealth

How do I contribute to my Up&Up Wallet?

There are two ways to contribute:

At move-in, instead of putting down a security deposit, you make a contribution to your Up&Up Wallet
Each month, you can make additional contributions to help your wealth grow even faster. On average, most of our customers contribute $100 a month.

Do I have to contribute? What if I want a normal rental?

When you rent with Up&Up, the opportunity to build your wealth alongside your rental is automatic. If you're looking for a rental that doesn't include this option, working with Up&Up might not be the right choice for you.

How does my wealth grow over time?

Your Up&Up Wallet can grow in three ways:

At the end of each month, a portion of your rental home's profits are added to your Up&Up Wallet
Make additional contributions to help your wealth grow even faster
See the value of your Wallet increase as the value of your rental home does based on market conditions

How am I impacted if a home repair is needed?

If a home repair is needed, that represents a home maintenance cost. This cost will be subtracted from the monthly rent that is paid, which means lower profits for that month, and lower profits for both Up&Up and you.

Can I lose money?

While renting with Up&Up, the value of your Up&Up Wallet could decrease based on certain circumstances, including situations where the rental expenses exceed the rent paid in a given month or the home depreciates in value.

For example, if in one month, a significant and unexpected maintenance issue were to arise that led to expenses higher than the rent paid, both you and Up&Up would experience a shared loss. As a result, the value of your Up&Up Wallet would decrease.

What are the risks of working with Up&Up?

The value of your Up&Up Wallet could decline in value if the home declines in value or if our rental expenses exceed the amount of rent paid in a given month. If you choose to cash-out your Wallet instead of applying it towards a down payment on one of our properties, you will receive only 90% of the balance, which may limit or negate any prior growth. We encourage you to make contribution decisions carefully and to get personal advice from a professional financial advisor. Unless specifically noted otherwise, all Wallet growth examples provided in our websites and publications are based on hypothetical or simulated conditions. We make no representations or warranties that your Wallet will grow in value. Contributions to your Wallet are not set aside in an account or FDIC-insured.

Getting Started

How do I qualify to rent with Up&Up?

In all homes outside of Indiana, you must meet the following requirements:

Combined weighted credit score of 600+
3x rent in household income
Willing to sign a 2-year lease
Willing to put down 2x rent as an initial contribution to your Up&Up Wallet (or 3x rent if your credit score is 600-619)

Our Sandalwood community in Indiana is not yet eligible for the Up&Up Wallet program, so the requirements are slightly different:

Combined weighted credit score of 550+
3x rent in household income
Willing to sign a 1-year lease
Willing to put down 1x rent as a security deposit (or 2x rent if your credit score is 550-619)

Choosing a home with us is just like choosing a home with any other landlord. By visiting upandup.co/homes, you can see all of our available properties.

What is the process for choosing a home?

Choosing a home with us is just like choosing a home with any other landlord. By visiting upandup.co/homes, you can see all of our available properties.

What is the timeline to move in?

Move-in timelines can vary based on the home you select. If you are choosing a home from our existing inventory, move-ins can happen within three (3) business days. For homes that we have just recently purchased or that you are selecting with us, move-in timelines can be up to three weeks. If you would like to work with us, we recommend searching for a rental up to two months prior to your desired move-in date. Your leasing agent will work closely with you to help you find a home that best meets all your needs.

Choosing a home with us is just like choosing a home with any other landlord. By visiting upandup.co/homes, you can see all of our available properties.

At the End of Your Lease

What are my options at the end of my lease?

At the end of your lease, you can do one of four things with your Up&Up Wallet:

Renew: stay in your home and renew at market rent increases
Purchase: use the value of your Wallet as a downpayment to purchase your rental home
Transfer: transfer the value of your Wallet to a new rental in our network
Cash out: receive 90% of the value of your Wallet as cash

How much do I get back if I choose not to purchase the home?

If you choose not to purchase the home, you can transfer 100% of your Up&Up Wallet to another rental in our network (based on availability) or cash out for 90% of your Wallet's value.

If I transfer to another rental, do I have to make another initial contribution?

Nope! If you transfer to another Up&Up rental, the current value of your Wallet will be put towards your initial contribution.

Purchasing the Home

Do I have to purchase the home?

Nope! You are under no obligation to purchase the home you rent from us.

Can I purchase the home any at time during my lease?

Yes. If you're ready to purchase your home before your lease is up, all you have to do is reach out to our Customer Success team.

If I purchase the home, how is the purchase price determined?

We price all our homes at fair market value. If you disagree with our assessment of the home price, you have the option to appoint a certified independent third party appraiser.

Have more questions?

If you need help or have any other questions, contact us.

Have more questions?

Your Up&Up questions, answered

Have more questions?

About Up&Up

Building Your Wealth

Getting Started

At the End of Your Lease

Purchasing the Home

Have more questions?

Build wealth in your rental home today

We’re redefining what it means to rent