In our latest real estate tech entrepreneur interview, we’re speaking with Alex Lubinsky from Rentberry. Rentberry is a competitive bidding platform for rentals, and were featured in the Wall Street Journal this weekend.
Without further ado…
What do you do?
Rentberry is a platform designed to streamline rental application process for everyone involved and bring transparency to the industry as a whole. We achieve the following goals by offering online solutions to rental tasks, letting tenants see the demand for properties they like and make educated custom offers based on this information.
Our platform is equally useful for both landlords and tenants. Here’s what we offer in more detail:
- List properties & syndicate listings to nine partner platforms.
- Screen prospective tenants (credit score, background check).
- Choose candidates based on screening results and custom offers they make.
- Sign lease online.
- Collect rent & deal with maintenance requests.
- Search for properties and filter them by location, price, property type, size, pet policy, number of bathroom/beds, and 20 other amenities.
- See the current demand for properties & make educated custom offers.
- Sign lease online.
- Pay rent & split payments with roommates.
- Make maintenance requests.
What problem does your product/service solve?
There are two problems Rentberry solves. First and foremost, it puts a stop on secret bidding wars and let tenants see the real demand for properties they like. This way, we bring in more transparency and flexibility to the rental world. Second but still important, we’re the only ‘closed-loop’ rental platform, meaning we offer online solutions to absolutely all rental tasks.
What are you most excited about right now?
It’s been almost 10 months since our launch, and we’re happy to see the first statistics proving our idea right. We’re excited that Rentberry’s system of custom offers saved tenants on average 5.1%. This means that tenants try offering slightly less and landlords accept such offers when, for example, they receive a remarkably strong application.
What’s next for you?
We’ve already expanded nationwide, and now we consider further expansion to major English speaking countries. What’s more, we work on implementing a machine learning system that will be able to analyse local market and help landlords set fair prices for their properties.
What’s a cause you are passionate about and why?
It’s amazing how the right ideas and technologies can help people achieve the results that would otherwise be out of reach. It’s my passion to see how we develop the platform able to break the biggest bottleneck of the rental industry.
Thanks to Alex for sharing his story. If you’d like to connect, you may find him on Linkedin.
We’re constantly looking for great real estate tech entrepreneurs to feature. If that’s you, please read this post — then drop me a line (drew @ geekestatelabs dot com).