The Openroom Rent Rewards Program
It's time to reward great residents for respecting their rental agreement
How does the Rent Rewards Program work?
You, Property Manager, work together with Openroom to give benefits to your Residents.
It takes less than 10 minutes a month - no changes to your current workflows.
Residents Join
As the Property Manager, you invite your residents to join the Rent Rewards Program.
Note Payments
As the Property Manager, you share rental payment history of your residents with us each month.
Access Perks
Residents who joined get to access perks and discounts from their favourite stores.
Build Credit
Residents who join get to build their credit history as we publish their rent history to Equifax.
Access Private Beta
Am I eligible?
Your organization may qualify if you use software to manage your rentals and monthly rent payments.
Hundreds of retailers with perks to browse through
Mom-or-pop and Canada’s national brands are working with Openroom to help residents navigate the chaotic economic times.
Top 3 benefits for you, the Property Manager
#1: Impact a resident’s credit history to the reduce risk of unpaid or delayed rent
Court Orders inside Openroom totals to $279M (as of 04/2024) of unpaid rent over the last 4 years in Ontario alone.
It’s time to protect your business and your owners.
#2: Offer unique benefits to attract better residents for your rentals
Bring retail perks from your community to give you an edge when applicants apply to live at your rental.
You are the best, and obvious, choice because you care.
#3: Access Property Manager's discounts from partners
Of course you get deals too!
Try out new innovations from our partners in the rental ecosystem.
You’re running a business, you should be saving along the way too.
Top 3 benefits for your residents
Prepare in advance for the next rental
Chances are, the next housing provider is going to ask for the Consumer Credit Report from Equifax or TransUnion.
Seeing payments made consistently is 110% a positive.
Get perks from retailers
Whether it's in fashion, food, electronics, or daily essentials, stores are working with us to bring more savings & value for residents 🇨🇦
It's time to support Canadian Brands across the country. We're here for it.
Get better loan rates
A healthy balance of 'tradelines' on one's consumer report means they are a responsible individual. Banks take notice of this and can give better rates for mortgages or loans.
Let's continue to help each other.
Ready to go? Let's Chat.
Frequently Asked Questions (FAQ)
- • Buildium software
- • Yardi software
- • MiiProperty software
- • BuildingStack software
- • PayProp software
- • Quickbooks
- • Spreadsheet (Custom) such as Google Sheets or Excel
- • Other - we may still be able to accommodate your case even if it’s not one of the above. Please contact CEO Weiting Bollu to confirm eligibility.
Unfortunately, we do not cater to small-scale housing providers with less than 20 rental units. However, it's coming in late 2025!
Openroom’s systems will extract data from what you supply to us and turn it into readable elements on your dashboard.
Not to worry, CEO Weiting or CTO Vishal will walk you through this 5 minute step.
- • For organizations using property management software (e.g. Buildium or Yardi), you’ll be given instructions on which files to export and upload into Openroom.
- • For organizations using spreadsheet (e.g. custom Google Sheets or Excel), you’ll be given a template to put data into and upload into Openroom.
Because this is a new program, we will continue to add rewards.
If you’ve got connections to retailers that you want to bring on to the Openroom Rent Rewards marketplace, you are most welcome to introduce us to the business!
In addition, you can also make their perk SOLELY for the benefit of your residents. This way, you have an even more differentiator to attract renters to your building.
For all former tenants without consent collected yet, Openroom will provide emails, templates, and more for you to collect consent from them.
All organizations get 3 months free of charge on us to experience the value of the Openroom Rent Rewards Program before committing to it.
If you don't find value, you shouldn't pay.
Openroom charges the organization we work with based on the number of consented rental units each month. your organization can choose to charge your Owner, the Residents, or include it in your property management pricing.
When it comes to reporting rent payments to the credit bureau for on-time/late rent payments, individuals (aka residents/tenants) need to give consent first.
Example - if there is a unit with 3 residents within it, if 1 of them consents then it will be considered a consented unit and will be counted in the monthly usage.