September 28, 2021
Vancouver, BC – Tribe Property Technologies (TSXV: TRBE) (“Tribe” or the “Company”), has partnered with Pensio Global, a credit risk management and rental income guarantee company. The partnership will deliver unique products for both landlords and tenants to limit income losses in the case of a downmarket or job loss.
“We are excited to have a company like Pensio be a part of our Digital Services & Partnerships Program, because their services deliver peace of mind for both landlords and tenants,” said Joseph Nakhla, Tribe CEO. “Pensio has solved a key problem in the rental space that came to the forefront through the pandemic, where in the unfortunate situation of a tenant losing their job, rent will be paid on their behalf.”
Tribe’s partnership with Pensio Global will connect communities to educational content and offers around programs such as Pensio’s lease co-guarantees that pay the rent to landlords for tenants who lose their job; as well as rent guarantee programs for newly built rental-purpose buildings, and landlords.
“We have thousands of tenants and landlords using our Tribe Home community management platform and Pendo landlord software across Canada,” explained Mr. Nakhla. “This is a significant opportunity to educate and connect people to services that help bring harmony and simplicity to residential living.”
Tribe’s Digital Services & Partnership Program is focused on developing partnerships that leverage group buying power to elevate service offerings and convenience, while improving efficiencies and the overall benefits of living in a Tribe Community. Tribe’s digital partners in turn receive the opportunity to connect with thousands of potential customers in rental and condo communities across Canada.
“We love that Tribe’s goal of connecting communities and doing so with heart, very much aligns with Pensio’s values of renting with confidence and supporting peace of mind,” said Brandon Keks, CEO of Pensio. “We look forward to digitizing our rental income programs through Tribe’s platforms in a bid to connect tenants, landlords and developers to a service that can help simplify their lives.”
Tribe manages more than 40,000 homes made up of more than 100,000 residents. The Company’s proprietary community management software Tribe Home is integrated into every community with its ability to connect, inform, educate and protect through the digitization and simplification of residential community living.
About Pensio Global
Pensio Group of Companies (Pensio Global) is a credit risk consulting, management, and rental income guarantee company operating since 2004, specializing in proprietary rental income risk management programs tailored to the residential and commercial rental markets. Pensio is supported by a vast network of strategic relationships in property development, lending, insurance, and management technology.
Pensio Global provides risk management consulting services and rental income guarantee programs in four countries and growing.
Pensio’s has three strategic rental income guarantee programs for landlords, developers, lenders, and tenants. Our rental income programs cover pre-construction new build developments, multifamily dwellings, short-term extended-stay properties, student housing, seniors living care residences and commercial properties.
About Tribe Property Technologies
Tribe is a property technology company that is digitizing the traditional property management industry. As a rapidly growing tech-forward property management company, Tribe’s integrated service-technology delivery model serves the needs of a much wider variety of stakeholders than traditional service providers.
Tribe’s three revenue pillars are made up of software and service (recurring licensing and management fees), transactional (rent or condo fees, banking services, lease-ups) and digital services and partnership (smart building products, financial and insurance service) revenue.
Tribe seeks to acquire highly accretive targets in the fragmented North American property management industry and transform these businesses through streamlining and digitization of operations. Tribe’s platform decreases customer acquisition costs, increases retention and allows for the addition of value-added products and services through the platform. Visit tribetech.com for more information.
ON BEHALF OF THE BOARD
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Cautionary Statement on Forward-Looking Information
This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws regarding the Company and its business, which may include, but are not limited to, statements with respect to the aims and goals of the Company; growth plans including future prospective consolidation in the rental management sector; future acquisitions by the Company; beliefs of the Company with respect to the independent owner-investors market; and prospective benefits of the Company’s platform. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to proposed financing activity, proposed acquisitions, proposed success of the Company’s platform, regulatory or government requirements or approvals, the reliability of third-party information and other factors or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward- looking statements. The Company does not intend, and do not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.