EasyKnock is a sale-leaseback service that helps owners access the equity in their home while continuing to live in the residence as a renter.
An owner will submit information on their property to EasyKnock and receive an initial quote. EasyKnock will then conduct an appraisal and inspection to confirm a final offer. If the owner accepts, they will sign final documents and a new rental lease and receive their cash. Later they can buy back their ownership in the home from EasyKnock.
According to most sources, EasyKnock charges a processing fee of 2.5% of the purchase price, a monthly rent based on market rates, and a fee when the owner repurchases the property that is typically a few percentage points annually on the loan amount.
EasyKnock primarily makes money by charging rent to owners it works with. EasyKnock also generates revenue from processing fees, and annual fees on the loan amount collected when the home is repurchased. EasyKnock also works with real estate agents, mortgage lenders, and loan servicers and likely generates revenue from these partnerships.
EasyKnock is privately held.