CAMBRIDGE, Mass., November 4, 2021 / PRNewswire / – ApartmentAdvisor (www.apartmentadvisor.com), a proptech startup that aims to improve the apartment rental experience for consumers, today announced the launch of its new apartment finder platform. The company uses proprietary analytics technology to make the rental search process easier and more transparent, evaluating hundreds of thousands of listings daily and providing objective advice on which ones offer the best value for money. The platform includes listings of small and large owners nationwide.
ApartmentAdvisor was started by co-founder and chairman, Langley Steinert, who also founded CarGurus and was co-founder of TripAdvisor. The other co-founders of the company include the CEO Tom gilmore, founder and former CEO of VacationHomeRentals (sold to TripAdvisor); Technical director Josh arnold, former chief engineer at TripAdvisor and former director of data science at Mineral Tree; and Olivier Chrzan, former CTO at CarGurus. Greg Schwartz, CEO and co-founder of real estate startup Tomo, and former president of media and markets at Zillow, sits on the company’s board of directors. The company is financed by private funds.
“The traditional rental classifieds model is optimized for landlords, but not tenants,” said Tom gilmore, co-founder and CEO of ApartmentAdvisor. “We see an opportunity to reinvent this model with a more consumer-centric approach, and the release of our new research platform is a central part of that. Renting an apartment is a big commitment, and we want to make the process as easy and transparent as possible for tenants and landlords from the start. “
Unlike classifieds sites that display apartment listings based on an owner’s paid advertising, ApartmentAdvisor ranks search results based on which apartment has the best value for money against the search parameters. of consumers. The company’s search engine is powered by a property rating model that takes size, quality, amenities and location data into account to rate and rank every available listing from “Great Deal” to ” Too expensive “. ApartmentAdvisor is also developing a community engagement capacity that incorporates residents’ critiques and insights and provides tenants with first-hand knowledge of local neighborhoods.
“Technological innovation in rental housing research has lagged behind other categories, yet the need to better serve tenants and landlords has never been more critical,” said Langley Steinert, co-founder and Chairman of ApartmentAdvisor. “ApartmentAdvisor fills this gap. Our founding team not only has an exciting vision, but also brings in-depth experience of building Tripadvisor and CarGurus from startups to major market platforms. We see a similar path for ApartmentAdvisor as we work to revolutionize how tenants find and rent their next apartment. “
The US apartment rental industry is worth an estimate 174 billion dollars based on income1, and the service industry that assists property managers with listings, advertising and listings is valued at close to $ 45 billion. ApartmentAdvisor enters the market with a freemium model for property owners and managers, allowing them to list inventory on the platform for free. Owners and managers cannot pay to influence the organic search result ranking of their listings. However, they will have the option of upgrading to a paid service for additional services. The company says improving the search experience for tenants will lead to higher conversions for landlords and property managers from informed and ready to sign applicants. The platform is free for tenants.
Owners can find more information on how to list inventory for free on ApartmentAdvisor by contacting [email protected].
ApartmentAdvisor (www.apartmentadvisor.com) makes it easy for renters to find the right apartment at the right price. The company is building a rental research platform that combines rigorous rental price analysis with neighborhood information, giving tenants a more transparent way to compare prices, features and locations of available apartments.
ApartmentAdvisor was founded in december 2020 by a team of founders and engineers from Tripadvisor and CarGurus, including Langley Steinert (also co-founder of Tripadvisor and founder and executive chairman of CarGurus); Tom gilmore (founder and former CEO of VacationHomeRentals, sold to Tripadvisor); Josh arnold (former head of engineering at Tripadvisor and former director of data science for MineralTree); and Olivier Chrzan (former CTO of CarGurus). The company is headquartered in Harvard Square in Cambridge, MA.
1 IBIS World, “Apartment Rental Industry in the United States”, May 2021
SOURCE Apartment Advisor