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The real estate rental market is a highly localized, relationship-based industry driven largely by individuals living and working in their own cities, causing many to acknowledge the longstanding difficulty of streamlining disruption to this market. If early innovators like Zillow and Trulia primarily entailed bringing real estate data online, newer innovators harness data not only to improve analytics for landlords, but also to improve efficiency for apartment seekers.
This becomes more important as New York City, for instance, begins to see the start of an expected surge in rental apartments — option market in singapore 2016 rental than 38, market-rate rental apartments, mostly in Brooklyn and Queens, are expected to be completed over the next three years. With the advent of new technologies, the market has begun to shift nearly every aspect of the rental option market in singapore 2016 rental, from leasing applications to communications with landlords and agents to payment processing.
More than 90 percent of people looking for their next living situation are searching online first and more than 60 percent are looking on mobile.
As rentals become commoditized and fewer people are satisfied being tied down to static assets, a number of players have sought to empower potential renters in new ways. The first, and perhaps most obvious, is enabling rental without a broker. New York-based real estate startup Oliverfor example, launched in to serve as a platform that cuts out the middleman and seamlessly connects renters with apartments.
What this means in practice is that by aggregating real-time rental inventory directly from property managers and landlords, rather than through third-parties, the Oliver app enables renters not only to browse and filter listings as could be done on other platforms, but also to schedule showings at the tap of a button using an in-app calendar feature. To frame the terms in the classical economics, platforms like Oliver will be uniquely positioned to capture value from the inefficient gap currently option market in singapore 2016 rental between supply and demand.
Others have invested resources in improving the process for brokers themselves. Nestioa residential leasing and marketing platform, streamlines the leasing process using cloud-based software, which enables listings to be shared, leads to be tracked and clients to be managed in option market in singapore 2016 rental easy-to-use platform.
As agents spend less time at their desk and more time closing on rental deals via mobile applications, DotLoop has also focused on automating more redundant tasks by allowing agents to upload important documents, negotiate transactions and get bank-approved e-signatures in a single platform.
Others are playing matchmaker in different ways: Other startups are seeking to disrupt the traditional corporate housing and long-term stay marketplace. Startups like HomeSuitean online marketplace that removes the hassle from finding furnished housing, aggregates not just long-term but also short-term inventory, geared toward individuals who might previously have focused their searches on more standard month-to-month property managers.
In doing so, they are filling the grey area between Craigslist and Airbnb, serving the needs of individuals looking for something more permanent than a vacation rental yet more transient than a typically longer lease commitment.
Even payment solutions and mobile are being integrated into newer platforms by companies like RadPad, an end-to-end photo-based rental marketplace aiming to become an A-to-Z platform option market in singapore 2016 rental renters and landlords alike.
As lead-generation platforms begin to focus more on empowering with complex data analytics those involved in the rental process, an increasing number of startups, both small and large, are empowering renters with more flexible co-living options, capitalizing on the trends toward both optimized roommate matching and pre-furnished apartments. Option market in singapore 2016 rental more user-friendly startups begin to steal market share from Craigslist, the value of disruptive innovation that reduces rental-market opacity has become ever clearer, and speaks to the expectations that renters, agents and landlords now have around enabling the rental process, primarily offline in years past, with new technologies.
Even more incremental changes, from video walk-throughs to new ways of slicing community rental data, have begun to play significant roles as startups cram into the real estate market, hoping for even a small slice of a huge pie. Omri Barzilay is a co-founder of Propcy. An increasing number of startups, both option market in singapore 2016 rental and large, are empowering renters.