Ownify covers major repairs like HVAC failure, roof leaks, and water heater breakdowns for five years after you buy. You handle routine maintenance: light bulbs, filters, yard work, gutter cleaning. The program protects you from unexpected repair costs when you're a new homeowner.
Chapters
All right, I wanted to touch on repairs and maintenance in our program. One of the design principles for Ownify is really to create this 5-year program of ownership on training wheels, right? Home ownership without all of the worries. And so what we did is we basically created this package that covers a lot of the unforeseen circumstances and ensures the customer from you know, the big expenses and the risks that come with homeownership. And you hear a lot about this where young people buy their starter home, they stretch into making the payment, they can barely afford the monthly payment, and then something happens. The roof starts leaking, the water heater goes, you know, the HVAC goes. You know, one of our customers had a tree fall on the fence of the neighbor and they had to pay. We had— we paid for it. And so part of the design principle with Ownify is really insuring the customer against that. So we have in our contracts a split in terms of responsibilities between standard routine maintenance, which is the responsibility of the customer up here, and the unforeseen things that could keep you up at night, which is our responsibility up here. So maintenance, basic principle is if it's something that you'd expect to handle as a homeowner month to month, it's yours. Things like replacing the light bulbs, changing filters, smoke detector, you know, CO2 detector batteries, yard care, landscaping, snow shoveling, pest prevention, you know, cleaning the gutters, keeping the house functioning, you know, minor repairs, touch-up paint, all of those things that as a homeowner you would normally expect to take care of. On the other side, you have repairs. Those are the things where if it's something that could cost thousands and keep you up at night, it's ours and Ownify covers it. Through its program. So that could be failure of the HVAC system, the roof starts leaking, the major systems give out, right? The water heater, structural issues, external repair, anything to do with storm or weather-related damage. So you see as an example all the things on the right, and that's really something that Ownify takes care of. So important to understand as you consider the program or as you talk to customers about the program, really this differentiation between maintenance and repairs. And importantly, unlike a traditional mortgage-based ownership program, Ownify Qualify takes care of the repairs for the first 5 years.
