Core Insights - A new "buy now, pay later" (BNPL) program is being piloted by Affirm, allowing eligible renters to split their monthly rent into two equal biweekly payments at 0% interest [1][2] - The program is in partnership with Esusu and is available only to renters at participating properties who subscribe to Esusu's paid membership tiers [2][3] - The initiative aims to address the financial strain on renters, as rent is often the largest monthly expense for many households [4][5] Program Details - Eligibility for the program is determined through underwriting that assesses a renter's ability to repay [3] - Renters must subscribe to Esusu's Plus or Premium membership, costing $35 or $50 per month, which includes additional benefits like rent reporting and financial coaching [3] - The nationwide rollout date for the program has not yet been announced [3] Market Context - The shelter index, which includes rent, has increased by over 3% year-over-year, indicating rising housing costs [5] - Nearly half of U.S. renting households are considered cost-burdened, spending more than 30% of their income on housing [5] - Affirm reports over 24 million consumers using its services, highlighting the growing popularity of BNPL options [5]