To make homesharing as easy, secure and accessible as possible, Silvernest provides identity verification, roommate compatibility matching, secure in-app messaging and all the tools you need to create a lease and/or homesharing agreement, collect rent and protect yourself and your belongings.

To cover the cost of these and other services, there are three types of fees you will encounter as you use Silvernest.

Optional Background Screen Fee

Many Silvernest users proactively complete a background screen to make their profile stand out and demonstrate their interest in homesharing. Many others complete a background screen at the request of a homeowner.

In either case, users who complete a background screen pay a one-time fee of $29.99. Screen results are good for 90 days and can be shared with as many users as desired (not just the person who requested the screen).

Silvernest partners with best-in-class background screen company, Checkr, to enable background screens on our platform.

5% Monthly Service and Insurance Fee

Once you have found a space to rent, we highly recommend you and your soon-to-be housemate build a lease and set up automatic rental payments through Silvernest. Doing so will allow you to enjoy important security and rent management features while also automatically enrolling you in insurance coverage that protects your property from damage and you from liability in case you accidentally cause damage to the home.

To cover the cost of these services, Silvernest charges a fee equivalent to 5% of your monthly rent amount, deducted automatically from your rent payment each month.

Transaction Processing Fees

When you pay monthly rent through Silvernest, you will incur one of the following types of transaction fees:

  • If you pay with checking or ACH: a $0.25 transaction fee (this fee goes to our third-party financial services provider, Plaid, for managing the transaction)

  • If you pay with credit or debit: 2.9% of the monthly rent amount + $0.30 transaction fee (this fee goes to our third-party payment processing provider, Stripe, for processing costs)

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