Inspiration
Exorbitant brokerage fees and middle men make real estate too expensive. Also, landlords run losses during vacancies between apartments. Prospective tenants cannot look for apartments in advance because real estate moves too quickly
The problem here is a disconnect between landlords, prospective tenants, and current tenants.
How it works
Landlords and current tenants agree to put the apartment up for rent 3 months in advance. Prospective tenants can bid on the apartment until the current lease expires. In exchange for allowing the apartment to be shown, the current tenant gets half of the brokerage fee. Our brokerage fee is a flat 5%, which is less than half of the current fee.
Challenges I ran into
Design is an iterative process and something we obsess over. Developing a design identity definitely has growing pains, but we are proud of the result.
Accomplishments that I'm proud of
The design of the site and the business model creates a personal feel when looking for apartments. It is important to reveal the landlord in the listing, because the business relationship typically lists multiple years.
What I learned
This project requires attention on a variety of fronts. From xCode and Objective-c to design challenges and front-end web development, this project requires broad proficiency.
What's next for Rentity
After finishing the product, we are incredibly excited to approach current tenants and landlords and start acquiring users.
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