Silvernest operates a coliving marketplace that helps connect hosts and tenants. Silvernest often helps senior adult hosts earn extra income by hosting younger adult tenants in their home's extra space.
Silvernest hosts post their properties on the platform and create a personal profile so they can be matched with potential housemates. Interested tenants submit inquiries through the website portal based on either listings or housemate matches. Hosts can reply to and ultimately secure prospective coliving tenants. Hosts then use the Silvernest software and platform to collect rent payments and receive access to an insurance policy for hosts.
Silvernest charges a commission to tenants on each rent payment placed through the platform. According to most sources, the platform charges 5% of the value of the monthly lease. Silvernest also charges a flat fee for background checks, which multiple sources say start ~$30.
Silvernest generates most of its revenue from a marketplace commission paid by tenants on each rental payment to a host that uses the Silvernest platform. Silvernest also generates revenue from background check fees.
Silvernest is privately held.