Silvernest Basics: Features, Pricing and Other FAQs

Posted by Naomi Scher on Oct 8, 2021 8:55:24 AM

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Because sharing a home is a very personal experience, it’s natural for questions to arise. At Silvernest, we receive questions about everything from how our website and features work to general inquiries about creating a happy shared home. If you want to learn more about these topics, this is the place to start! Here are some of the most common questions we get about our offerings, our pricing and homesharing in general. 

 

 

Top Five Questions About Silvernest

 

What are Silvernest’s offerings/features? 

Our website is built to be a full-service homesharing solution with tools to help you at each step in the process. Here’s a look at the major components of Silvernest: 
 

  • Matching. We feed the information you provide in the signup process about your roommate preferences, work schedules, house rules and more into our software to surface compatible matches for you. Our goal is to not only help you find a home, but to also make the homesharing experience as smooth and frictionless as possible. 
     
  • Messaging and screening. Get to know your matches with secure in-app messaging. Request a background screen from potential housemates and/or take one yourself to show your interest and commitment to homesharing. 

  • Tools to make it official. Once you’ve found a housemate, use our templates to create a homesharing agreement or a state-specific lease.

  • Nest Easy™ protection. Get peace of mind with rent auto-pay and insurance coverage for the length of your homesharing arrangement.  

 

How much does Silvernest cost? 

While Silvernest used to charge a service fee of $24.99 per month for matching and messaging, we have since expanded our offerings to include rent auto-pay and insurance coverage, so we adjusted our pricing model accordingly. Here’s a summary of current Silvernest fees:  

 

  • Once you’ve found your housemate match, created a lease and set up rent direct deposit on Silvernest, you’ll be automatically enrolled in insurance coverage to protect the renter’s property from damage and the renter themselves from liability in the case of damage to the home. The Silvernest fee of 5% of your monthly rent amount will be deducted automatically from the rent payment transaction each month 

  • There’s also an optional background screen fee. Many Silvernest users proactively complete a background screen to make their profile stand out and demonstrate their commitment to homesharing, while others complete a background screen at the request of a homeowner. In either case, a background screen costs $29.99, is good for 90 days and can be shared with as many users as desired. 

  • Silvernest background screens are powered by best-in-class background screen company Checkr. 

 

We would also like to note that, when you pay monthly rent through Silvernest, you will incur a small transaction fee paid directly to our third-party payment processing provider.

 

How does Silvernest match me with compatible housemates? 

 It boils down to this:  

 

  1. You fill out a profile with info about yourself and your preferences in a housemate. 

  2. Other users do the same. 

  3. Our software crunches the numbers to surface matches based on location and how well your preferences line up with others’.
     

Don’t worry—we’ll also show you people who don’t match your preferences 100% so you can review and decide for yourself. Additionally, while some metros will have more available homes or homeseekers than others, we’re always working on bringing new homesharers on board nationwide! 

 

Is Silvernest legit? 

Yes! Silvernest is available nationwide, with thousands of active users. Here’s what some of them have to say: 

 

“Silvernest made finding a housemate easy and convenient. I’m impressed by the professionalism and quality of this program. I’m very pleased with the entire process and would definitely use Silvernest again!”

- Ralph P., CO 

 

“I'm happy to report my space to share has been successfully rented thanks to Silvernest's web site. Background check, offer and then a lease all provided in timely manner. Thank you, Silvernest team.”

- Cheryl S., CA 

 

“I’m 68 and rent a room in a beautiful home in a walkable area.  My landlady Renée and I have developed a wonderful relationship, and we both hope it continues for a long time. Silvernest has worked for both of us beyond our preconditions, perceptions and concerns. I’m as happy as a clam.”
- Jim C., AZ 

 

 

 

How much can I earn or save by homesharing?  

On average, homeowners can earn as much as $850 per month by renting out a room in their home. Housemates, on average, can save as much as $750 per month compared to market rent!  

 

Many Silvernest users have an amount in mind that they would like to earn in rent every month. If you want to take home a certain amount of rent income, you may want to consider adding the Silvernest fee amount to the monthly rent you charge. For example: if you would like to take home $500/month in rent income, you’d want to charge your housemate that amount plus 5% ($500 + $25 = $525). 

 

Homesharing is a journey, and we're proud to be creating a vibrant community of passionate people ready to walk that road together. Whether you’re still asking yourself, “what exactly IS homesharing?” or you’re an expert in opening your home, we’re here to help.  

 

Get Started

 

Tags: Housing, Lifestyle, Homesharing, Roommate Matching, Income