This article embraces information for those house rental startups and enterprises, who want to create shared housing rental app. Herein we’ve shared three takeaways to become successful house rental startups. Let’s have a look!
The world is changing rapidly. And, everything has been shifting to mobile apps. With a few taps, we are able to book a cab, order food, and get on-demand handyman and beautician at home.
When it comes to renting an apartment, which is considered as one of the daunting tasks, it has become easier for everyone, regardless of location, region, city, and country. This is because that rental property apps have minimized the pain of tenants. Even, shared housing startups are experiencing continuous growth potential. According to the recent report from the TechCrunch, “The residential-focused real estate startups uncovered a raft of companies with a shared and temporary housing focus that have raised in the past years.”
Moreover, this is not only a U.S.-specific phenomenon. Shared and short-term housing startups are cropping up around the globe, from China to Europe to Southeast Asia. In the below-given chart, you can see one of the top shared housing startups that have raised recent rounds.
Have you noticed any commonalities in the above image? All these startups listed are based in either New York or the San Francisco Bay Area. But, at the same time, these areas offer the bulk of startups’ living spaces, and they are also operating other cities, including Los Angeles, Seattle, and Pittsburgh.
Advancing ahead! Let’s check out few takeaways that you as a house rental startup should consider before developing rental property apps.
Image Source: thespruce
When something is on-trend, then more and more startups generally take part by jumping on the bandwagon. However, all top of that, it is important to focus on the solutions after realizing the pain-points of people. Like for working professionals, co-living solutions can work for your business. By providing this, it gives the visibility to your business.
If startups focus on providing solutions, then they can create the best house rent app. Focus heavily on solutions to make your business stand out from your rivals.
Now, we are taking an example of one of the top-ranked funded house rental startups, i.e. HubHuas, which is a real estate agency and focusing on providing the co-living solutions to working professionals. This housing rental startup is less than three years old, and now handling about 80 houses in Los Angeles and the San Francisco Bay Area, and matching up app users to roommates.
On the other hand, Starcity is another San Francisco-based company that positions its model as a partial solution to housing shortages as it promotes high-density living. It also claims to increase living capacity by three times the normal apartment building.
Furthermore, you need to co-living solutions for working professionals, which is on-demand. It is not just renting a room, but it is also about being a part of the community. As it is important to provide solutions to housing shortages, it promotes high-density living. It claims to increase living capacity by three times than normal apartment building.
For housing rental startups, it is essential to provide solutions to users that is the key point to consider before developing rental property apps.
The next takeaway is to provide seamless house rental solutions, which must be affordable for your app users. If we’re talking about the ingredients, which are needed for your business’s success, make sure to provide affordable rental solutions with important ingredients like the choice of location, easy move-in, and ready-made social network.
The main objective is to come up with the solutions in terms of on-demand house rental apps that disrupt the existing market. Also, your solutions must create value in the users’ lives.
Talking about the HomeShare, it is a San Francisco-based housing rental startup. It allows users to get affordable city living with their preferences. The company matches housemates based on the personality that ensure compatibility and peace of mind. Currently, it is available in four markets, including San Francisco, Silicon Valley, New York, and Seattle.
The key point that house rental startups can pick is that it is important to unlock cities by providing attractive yet affordable housing. So, the first move is to offer your services through an app-based platform in order to disrupt an existing market through rental app solutions that can actually work.
To become successful and stand out from the crowd, the startup needs to find a different addressable market to win. As we’ve just seen in the image-given image, all these shared-housing rental startups already had clear strategies to become unique from others. Shared and temporary housing startups also seem to offer some savings through flexible-term lease, with minimum stays of 1 or 3 months.
These startup companies have targeted those people, who found hassles while searching a home or finding a roommate or a flatmate. Furthermore, these companies have also broken up the stereotypes of accepting from the particular community or not. Being a house rental startup, if you are planning to create an on-demand rental app, then find a specific market that your business can address better only.
Image Source: officelovin
Now, coming to the last takeaway is that temporary, flexible, and high-service models that have already gained a lot of grip for commercials. But, how can you become unique? All you just need to provide the temporary, flexible and high-service model. This business model has already gained a lot of grip for commercial spaces. The key point is to provide the on-demand rental app for commercials.
Let’s take an example of Industrious, Knotel, and Breather that are high-funded commercial startups in this sector. Industrious is a provider of flexible-term and high-end spaces to offices. Knotel is a provider of customized workplaces. And, Breather provides meeting and work rooms on-demand. Collectively, these three companies have raised about $300 million till now.
Your business model works only when the company applies modern technology and give advanced solutions to users in terms of on-demand solutions for residential and commercial purposes. To create an app for on-demand solutions to fulfill for both commercial and residential purposes, a mobile app is vital to delivering unique solutions to your users.
The key is to identify the market and start with the small region for testing. And, create a platform that connects owners and tenants or connects to perfect roomie with optimal efficiency. Differentiate by being the first mover in the market that needs modernization.
The aforementioned takeaways reveal the solid reasons that it is a high time to develop shared housing app for your business. Just make sure that you keep those takeaways in your mind before developing an on-demand home rental app.
So, being an apartment rental startup, if you have any query or confusion regarding mobile app development in this niche, then you can directly contact us as we are a leading mobile app development company and have already developed over 3000 mobile apps in diverse categories. Just fill this below-given form and our sales representative will get back to you within 48 hours.
LET'S TALK VALIDATE YOUR IDEA!