Since the dawn of the commercial internet, founders have been trying to reinvent how real estate-related transactions occur. 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 than Millennials, which means that the long-awaited tech 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
Zillow and Trulia are two online sites that 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. As such, Millennial buyers (and renters) have more data to use in their searches for accommodation than ever before, and they can use it to make better decisions on how they spend their housing budget
If you’ve ever hunted for an apartment, it can be a tedious process. However, RadPad is trying to make it more straightforward and intuitive. Their photo-based platform not only helps renters find a place to live but 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 most extensive online rental services in the country today.
Besides the photo search, another feature that Millennials love is that the platform is primarily used on mobile devices. 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.
Another gem in the real estate technology space that Millennials love is Nestio.
Nestio is bringing the leasing process to the cloud and, in the process, is helping landlords to get better leads at a lower cost.
Developers and property managers can automate their marketing and tenant onboarding processes. For renters, the response is quicker, and as such, the automation has led to a much-improved user experience – features Millennials crave.
DotLoop 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.
This makes 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 that 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 before it gets massive 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 that Millennials love are changing the way people will live in the city.