Real Estate Technology Startup’s Proprietary Landlord-Tenant Software Streamlines the Renting Process for Landlords and Tenants Nationwide
New York, NY (November 15, 2019) – RentRedi, the real estate technology startup making stress-free renting affordable and accessible to everyone, has closed $1.4M fundraising with successful seed funds and notable strategic investors. The round, led by TIA Ventures, will help RentRedi support its team growth, expand its tech offerings, and add thousands of additional landlords to their platform. According to the Rental Protection Agency, there are currently 23 million landlords representing 113 million renters in the US. Of the 23 million landlords in the United States, 20 million of them are small landlords and 80% of them are still using pen-and-paper or spreadsheets to run their businesses.
Participants in the round include TIA Ventures (investors in LeafLink, BentoBox, Bevi, Eight, Kidpass, Moved), RiverPark Ventures (headed by Andy Appelbaum, co-founder of Seamless; invested in Petal, Via, Candid, Spindrift, Honest Buildings, Katerra, Squarefoot, and KeyMe), David Hirsh (former Managing Director at Blackstone), Sam Chandan (NYU Schack Institute Dean & Silverstein Chair), and Eric Guardiola (Investment Team at Blue Cloud Ventures).
TIA Ventures general partner, William Hapworth, said, “The RentRedi team has all the right stuff when it comes to building an early-stage company that is set up for mass-market success: team with highly complementary skill sets, deep focus on the customer experience, solving real pain for customers, going after a massive market, technical chops to build a bullet-proof product while still maintaining focus on the user experience, and a keen ability to absorb feedback and translate it into action all in one breath.”
The company was founded in 2016 by Ryan Barone (CEO/CTO) and Ed Barone (CMO/CFO), but the idea originated in 2014 – when Ryan and other struggling and stressed college students lost apartments due to the inability to quickly gather the necessary paperwork to hold an apartment. He began building an app for renters that would enable them to safely store all their documents in one place and then apply to any property on RentRedi with just a click. As more landlords and tenants began sharing their stories, Ryan saw the opportunity to evolve the platform to solve renters’ problems and make life easier for everyone.
Across the country, landlords are juggling full-time jobs in addition to managing their properties. However, using RentRedi lets them build equity and passive income while continuing to maintain or scale their rentals. For this reason, many landlords describe using RentRedi as a tool that empowers them to achieve their version of the American Dream – whether it be putting a kid through college, retiring early, or spending more time with their family.
For landlords, RentRedi provides an all-in-one dashboard that enables them to list properties, prequalify potential tenants (something only RentRedi does), screen potential tenants, collect and automatically track rent, receive next-business-day payments, communicate with tenants, and manage and auto-delegate maintenance. It has partnered with platforms like TransUnion, Realtor.com, Doorsteps, and TSYS to provide an all-in-one task management dashboard for landlords. For tenants, RentRedi’s mobile app allows them to prequalify, apply, pay rent, and submit maintenance requests (via a 5-second video that allows landlords to see directly what the problem is).
“I believe strongly in providing a customer-driven product that delivers everything its customers need and nothing they don’t. At only $20 a month, RentRedi has created a community of dedicated landlords who love the platform,” said Ryan. “Ultimately, we provide a happier way to live. Landlords have an easy place to manage everything and renters can do everything from the phones in their pockets.”
RentRedi is landlord-tenant software that empowers landlords to easily manage their properties themselves and make stress-free renting affordable and accessible to everyone. For landlords, RentRedi provides an all-in-one dashboard that enables them to list properties, prequalify and screen potential tenants, collect and automatically track rent, receive mobile rent payments, communicate with tenants, and manage maintenance with video. It has partnered with platforms including TransUnion, Realtor.com, Doorsteps, and TSYS to create the best experience possible. For tenants, RentRedi’s mobile app allows them to prequalify, apply, pay rent, and submit maintenance requests with a video of the issue, all from the palm of their hand.