This offering is being conducted on an expedited basis pursuant to the SEC’s temporary regulatory COVID-19 relief.
Addressing the pain points of 450,000 military and federal employees assigned station transfers each year
Focus on military and federal employees creates a competitive advantage
Owned and operated by active duty and veteran Marines
During the Hofstra Veterans Venture Challenge $100k Pitch Competition At Ease was the 3rd place winner! At Ease is using the proceeds towards scaling customer growth and website upgrades.
Issuer
At Ease Rentals Corp.
Type of Offering
Regulation Crowdfunding
Offered By
NextSeed Securities, LLC
| Offering Min | $120,000 |
| Offering Max | $500,000 |
| Min Individual Investment | $250 |
| Raised to date | $193,050 |
| Type of Securities | Convertible Notes |
| Valuation Cap | 5,000,000 |
| Discount | 20% |
| Annualized Interest Rate | 6% |
| Maturity | 36 months |
| Total Round Size | $500,000 |
| Offering Size | $500,000 |
| View the Issuer's SEC Form C filing | |
At Ease is expanding their platform to offer short term rental options in more areas. They have identified key markets as: San Diego CA, San Antonio TX, Austin TX, Tamp, FL, Pentagon City/Washington DC. They will be focusing heavily on researching these target cities and developing their web application to filter housing properly according to per diem allowances and family size.
Funds from the NextSeed Raise will be allocated towards product development (30%), marketing (30%), staff and business development (30%), and long-term product maintenance (10%).
Military families move on average every 2-3 years, through a process called permanent change of station (PCS). These moves are taxing and can be extremely stressful on the whole family. During reassignment, families often move into temporary housing upon leaving a duty station and arriving at a new one, until a more permanent residence becomes available. The burden is on the service member to locate a hotel or other short-term rental that qualifies for the allotted per diem and meets federal requirements for reimbursement. Because of government regulations, many short-term rental (STR) platforms are not approved for reimbursement, even if they are significantly cheaper than a hotel. Using unapproved booking companies can result in ineligibility for reimbursement and in some instances, even disciplinary action. This leaves families with limited options, many times having no choice but to stay in cramped hotel quarters for lengthy periods of time.
At Ease Rentals is a solution to this problem, a one-stop shop for short-term rentals that are pre-approved for reimbursement when used by military and federal employees. With the At Ease platform, a family in transition can easily search homey, comfortable rental properties within their designated per diem allowance (calculated by the At Ease technology, based on certain profile information like rank, location, and reason for transfer). Before even booking, military and federal employees can have peace of mind that the rental is guaranteed to meet federal requirements, ensuring that the service member will be reimbursed appropriately without issue. At Ease Rentals is committed to making the process of moving as painless as possible for the approximately 450,000 military and federal employees assigned station transfers each year.
US Government-funded lodging is a $5Billion dollar market. Each year, the Department of Defense moves approximately 450,000 people across the globe, and the need to mobilize military personnel remains unaffected by the current pandemic and resultant economic slowdown.
At Ease has the opportunity to capture a large percentage of this housing market with their innovative short-term rental platform - the first of its kind specifically designed for the needs of military and federal employees. Prior to At Ease, there was no access to pre-approved, short-term rentals through an online booking platform. Large families, each with unique circumstances (including families with disabilities, pets, and a variety of other consideration) are forced to use hotels for temporary housing during a move. These displacements can last anywhere between 5 days and 5 months. Being able to secure a comfortable, home rental ensures adequate space for the family, the ability to cook meals and store food, and the opportunity to explore neighborhoods for more permanent residence, all of which can help reduce the impact of stress on the service member and their families.
In addition to the benefits of securing lodging through the At Ease platform, active duty members have the opportunity to become hosts themselves. Military families who own a home can have their home pre-certified to be ready for listing any time. This allows them to list their own property in the event of PCS, alleviating the burden of renting their property as well as locating a home for their transfer destination.
At Ease is a two-sided marketplace that connects approved hosts with military and federal personnel. Customers use the website interface to search for housing in their area, within their per diem allowance, and book directly through the site.
At Ease earns revenue through:
1999 - Anthony joined the Marine Corps as reservist, then transitioned to active duty status
2004 - Fought in the Battle of Fallujah during the Iraq War
2010 - Commissioned as a second lieutenant
2018 - Moved to Texas to become an ROTC instructor and developed the idea for At Ease Rentals
2019 - Incorporated At Ease Rentals Corporation after operating as an LLC for nine months
2020 - Launched PCSAtEase.com website and completed the DivInc. Accelerator Program
Anthony has over 20 years of honorable service in the Marine Corps. Throughout his time in service, he has had extensive leadership, operational, and logistical planning experience, leading teams of over 300 personnel. He has personally been through over 13 military moves, and holds a BS in Electrical Engineering from Florida Agricultural and Mechanical University.
Greg is a Marine Corps veteran with over 9 years of service as a Naval Aviator. He holds a Bachelor of Arts degree in Business Administration and has over 2 years of experience in vacation rental property management with his company, Righteous Rentals, with $2.4mm assets under management.
Mateo brings over three years of experience as a growth & development manager in the alternative accommodation industry. He has extensive experience selling RaaS (Revenue as a Service, Saas (Software as a Service), and PaaS (Platform as a Service) products.
As team players with years of leadership experience, they have assembled an Advisory Board to assist them with finance, strategy and marketing.
Brian Dass - A serial entrepreneur with over 25 years specializing in global travel & hospitality ventures. He previously co-founded two successful web-based hotel technology firms that service online booking engines and reservations.
Kathleen Fairall - An Army veteran, specializing in human resources with over 20 years of experience. She holds an MBA from UNC- Greensboro and currently runs a consulting firm, Act III Consulting, LLC.
Brian Sharples - At Ease mentor Brian Sharples led HomeAway through an initial public offering in 2011 and oversaw its $3.9 billion purchase by Expedia in 2016. Sharples remained as chairman of HomeAway through January 2017. Sharples serves on a Chairman for TWYLA and Fexy and is a Board of Directors for GoDaddy, Ally, RVShare, and Yelp.
*Selected vendors for bonus reward fulfillment are subject to change based on pricing and availability at the time of the campaign close.
Bonus rewards are offered by the Issuer purely on a voluntary basis and do not influence the terms of the Offering. For the avoidance of doubt, the bonus rewards are not contractual conditions governed by the Note Purchase Agreement and are not enforceable under the Note Purchase Agreement.
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The information contained on this campaign page (the "Campaign Information") is furnished solely by the Issuer to prospective investors in the investment opportunity described herein. All Campaign Information is intended to be a summary of the terms and information contained in the Disclosure Statement and the Note Purchase Agreement, and is fully qualified by reference to those documents. In the event any Campaign Information conflicts with the terms of the Disclosure Statement or Note Purchase Agreement, the terms of those documents will control. The Issuer has provided the Campaign Information for inclusion on the website located at www.nextseed.com, and in no way will the Campaign Information be deemed to have been created or provided by NextSeed Securities, LLC, NextSeed Services, LLC, or their affiliates.