Leap Easy

Deposit replacement insurance and rent guaranty for the rental housing market

Specialty Solutions Growth PE-Backed

Overview

Leap Easy (operating as Leap Insurance Agency, LLC) is a specialty insurance agency offering deposit replacement and rent guaranty products for the residential rental housing market. The company serves property managers, landlords, and renters across the multifamily, single-family, and student housing segments, with coverage available across all 50 US states.

The company offers two core products delivered through a mobile-friendly digital platform: a security deposit replacement insurance policy and a rent guaranty co-signer service. Renters pay a small recurring fee in place of a traditional upfront security deposit, while landlords receive equivalent or greater protection against loss of rent, property damage, and related costs. Underwriting is performed by an A- (A.M. Best) rated insurance carrier, and applications are typically processed within minutes.

Founded in 2018 by Richard O'Connell, Leap Easy serves clients operating over 1,000,000 rental homes and integrates with Rent Manager property management software. In September 2025, Community Financial System, Inc. made a USD 37.35M minority investment in Leap Holdings, Inc. to support growth of the agency.

Products & Services

Leap Deposit Replacement

An insurance-backed alternative to traditional security deposits. Renters pay a small monthly fee (starting at USD 5/month) instead of a lump-sum deposit, while landlords retain full coverage for damages, unpaid rent, and related costs.

Key Features

Mobile-friendly application (approximately 5 minutes to complete)
Coverage backed by an A- (A.M. Best) rated carrier
Available across all 50 US states

Target Users: Renters, landlords, property managers

Agile Rent Guaranty

A co-signer and guarantor service that allows renters who do not meet standard income or credit requirements to qualify for a lease. Leap acts as financial guarantor, covering landlords for loss of rent, physical damage, utilities, and legal fees.