Your questions, answered.
See our most frequently asked questions. If you don't see an answer to your specific questions please contact us below.
Contact usWho is Ryse Advance for?
Ryse Advance is for owners of residential rental properties who have at least one active and paying tenant with a lease.
What does Ryse Advance give me?
Ryse Advance gives you cash today (at a discount) that would otherwise take time to receive from the tenant over the course of the lease.
How much can a rental property owner using Ryse Advance receive?
Ryse will advance an amount from 2 to 11 months of rental income, up to a maximum of $60,000.
How much does Ryse Advance cost?
Ryse charges a fee of 10% of the advanced amount. For example, on a Ryse Advance of $28,000 Ryse will charge a fee of $2,800.
How are Ryse's fees charged?
Ryse will deduct our 10% fee from the gross Ryse Advance. For example, on a Ryse Advance of $28,000 where Ryse's fee is $2,800, the amount advanced will be $25,200 ($28,000 less $2,800)
What can I use the cash for?
There is no restriction on cash uses.
How do I repay Ryse Advance?
You repay Ryse Advance by the rent payments you receive from the tenant.
Does Ryse Advance have any impact on my tenant?
No. Ryse does not inform the tenant about you selling your rights to the rent payments and the tenant continues to pay you as if there were no Ryse Advance.
What do I need to do after receiving Ryse Advance?
You continue to manage the rental as if there were no Ryse Advance. That includes maintaining the property in good condition, engaging with the tenant to collect rent and resolve any issues. Upon tenant non-payment, you pursue legal remedies to maximize the recovery.
Is there a credit check for rental property owners who use Ryse Rent Advance?
No.
Is Ryse Advance a loan or debt?
No. You, as the property owner, sell your rights to the tenant’s future rent payments to Ryse.
Does Ryse Advance impact my credit score?
No. Since Ryse Advance is not debt, there are no credit inquiries and no reporting whatsoever to the credit bureaus.
What happens if my tenant doesn't pay rent and I don't make a good faith effort to collect missed payments?
In order to guarantee that you will make a good faith effort to collect all tenant rents, you will grant a lien against your property to Ryse for the amount of the Ryse Advance. If you do not make a good faith effort to collect all tenant rents, Ryse will enforce its rights under the lien.
What happens if my tenant pays rent but I do not remit the full amount to Ryse?
In order to guarantee that you will remit all tenant rents applicable to the Rent Advance months to Ryse, you will grant a lien against your property to Ryse for the amount of the Ryse Advance. If you do not remit all tenant rents applicable to the Rent Advance months to Ryse, Ryse will enforce its rights under the lien.
What if the tenant pays rent late or I collect the rent from another source (like from a guarantor)?
You must remit all rent paid by your tenant applicable to the month for which you received a rent advance. This includes any amounts that you later collect such as amounts paid by your tenant after the due date, amounts paid by guarantors, or amounts collected from legal proceedings such as from collections or an eviction proceeding.
What do I do if my tenant does not pay rent in full by the due date?
You must immediately notify Ryse of the deficient amounts and actions taken to compel payment by emailing [@rysemarket.com]. If the tenant does not pay rent in full, it is your responsibility to make a good faith effort to take all legal actions to obtain the missed payments. This includes everything from sending late payment notices to sending the tenant's account to collections. When your tenant makes payments in the future, those payments have to be promptly remitted to Ryse.