Since the dawn of the commercial internet, founders have been trying to reinvent how real estate-related transactions take place. This includes how people shop for homes, rent their apartments, or even how they furnish the places where they live.
However, earlier generations were less likely to use the internet compared to Millennials and this means that the long-awaitedtech revolution in the real estate industry is finally starting to come to fruition. With that in mind, here are six apartment tech companies Millennials just love.
Zillow and Trulia
Ok, these are two, but they basically do the same thing – bring real estate data to the masses. Both companies are peeling back the veil on the mystical MLS (Multi-Listing Service) which real estate agents have used for years to keep consumers at bay. As such, Millennial buyers (and renters) are armed with more data than ever before and this means that can make better decisions on how they spend their housing budget.
One thing to know about living in cities is that space is at a premium. As such, it often makes sense to have the option of additional space – either for the short-term or the long-term. One option that comes to mind is self-storage. Sure, this is not a new offering but Livible.com is putting an entirely new spin to how people in Boston and Seattle approach storage.
Granted, Livable is not in a lot of cities – yet – but they integration of moving and organizing is just what many Millennials are looking for. This might be what other generations miss when looking at the behavior of young adults. It’s not that they are lazy it is just that they value what they do with their time and let’s face it this is how innovative companies like Livable get their start.
If you’ve ever hunted for an apartment, you know that it can be a tedious process. However, RadPad is trying to make it easier and their photo-based platform not only helps renters find a place to live but it is increasingly used as a payment portal for tenants and landlords alike.
While the company was acquired in 2016, it has continued to grow and according to some reports, it is one of the largest online rental services in the country today.
Besides the photo search, another feature which Millennials love is that the platform is primarily used on mobile devices and this makes it easier for an apartment hunter to find a new place to live no matter where they are.
Given these features, it is easy to see why RadPad is one of the few rental portals which has been able to grow – this is compared to other startups like Oliver which found it difficult to scale.
The real estate technology which Millennials love isn’t confined to customer-facing apps and websites. Nestio is bringing the leasing process to the cloud and in the process is helping landlords to get better leads at a lower cost than ever before.
This means that developers and property managers can automate their marketing and tenant onboarding processes and in doing so they are finding it easier than ever before to run their businesses. For renters, the automation can lead to increased responsiveness and an improved user experience – features which Millennials crave.
This is a platform specially tailored for agents on the go – which is just about every agent. The app helps to eliminate repetitive tasks and even makes document transfer almost seamless.
Not only does this make agents more productive but it also helps transactions to close faster than ever before. As such Millennial agents and Millennial buyers and renters love how DotLoop is making their lives easier.
If you are just out of university and have your first job in the city, you know that it is close to impossible to find an apartment which you can afford. Enter Roomi, this app helps prospective renters find roommates. The company has already raised close to $20 million and if you haven’t heard of them yet you should start following them.
While Roomi isn’t the only roommate matching service that has cropped up in the past few years, it has a fair bit of momentum and as such, it is only a moment of time before it gets really big or is bought out by another player in the space.
As you can see tech is finally making its way to rental markets and these six apps which Millennials love are changing the way people will live in the city.