Silvernest Converts to a Public Benefit Corporation

homesharing Denver boomers housing aging rent

Silvernest

We have always believed that homesharing is a powerful mechanism for improving health and finances, while providing new, more affordable housing inventory across the country

Silvernest, a company pioneering a new era in homesharing, has officially converted to a public benefit corporation (PBC), formalizing the company’s dedication to address multiple social and economic problems through the lens of housing affordability.

Silvernest will remain a for-profit company, but its PBC status reinforces its larger mission to serve a greater good in the community. Silvernest’s legal charter now explicitly commits the company to promoting financial stability, reducing social isolation and increasing affordable housing options among older adults through homesharing.

“Housing affordability, social connection and financial resilience are all critical needs for retirees and pre-retirees in a post-pandemic world,” said Silvernest President Riley Gibson. “We have always believed that homesharing is a powerful mechanism for improving health and finances while providing new, more affordable housing inventory across the country. We believe we can do well by doing good, which is a notion that’s always been ingrained into our business DNA.”

Silvernest addresses one of the country’s most pressing problems—affordable housing for a rapidly-growing aging population. Its platform enables homeowners to leverage their homes to generate passive income by renting out unused space. Renters benefit by gaining access to housing that’s typically below market rates. On a macro level, homesharing helps solve a number of challenges, such as providing an immediate inventory of budget-friendly housing and keeping social isolation at bay.

“We’ve always considered ourselves a social enterprise, optimizing for both the health of the business and our ability to drive real community impact and outcomes,” said Gibson. “Becoming a PBC is one small step to further formalize this dedication to social good.”

PBCs are legally responsible to balance the interests of multiple stakeholders, including employees, customers, shareholders and partners. In addition to financial reporting, Silvernest is now obligated as a PBC to provide annual impact reporting to demonstrate how it is driving results toward its public benefit statement.

About Silvernest
Silvernest is pioneering a new era in homesharing with an online service that pairs homeowners with qualified housemates, giving baby boomers, empty nesters and others a modern-day housing alternative. Through its roommate-matching, lease management and localized support services, Silvernest combines the tools, expertise and commitment to help people confidently participate in the homesharing movement. This hassle-free service takes care of the details, providing peace-of-mind by enabling people to stay in their homes, while benefiting from extra income and shared experiences. Visit us at http://www.silvernest.com, read our blog and follow us on Facebook and Twitter.

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