Rentberry, Inc. announces the launch of its transparent long-term rental application and price negotiation platform created to unite tenants and landlords.
The San Francisco-based company is poised to radically improve the cumbersome application process for tenants, who are tired of over-priced application fees, secretive bids and wasting valuable time. Rentberry tenants receive flexibility, transparency and the ability to save money.
Landlords receive a complete application management solution, allowing them to select best-qualified tenants and rent properties at the true market price. As CEO Alex Lubinsky says, “Transparency is the key to an open market but is currently nonexistent in the long-term rental application process. From now on, tenants don’t have to guess or blindly submit secret offers that are over priced. We want tenants to save money by submitting educated custom offers.”
By using Rentberry, tenants have the ability to submit offers that they are comfortable with, which might include security deposit or rental price discounts. If the property is undervalued, tenants can always be in the game without guessing or losing precious time.
More than 43 million units are rented each year and between five and six million families will become new renting households in the next 10 years. Renting has become the new economic and lifestyle choice of almost 40% of households in the United States. Currently, landlords and tenants lack trust in each other.
Rentberry seeks to change that, potentially even stopping unreasonable bidding wars. Armed with knowledge, tenants will be able to make educated decisions. Rentberry is an online solution that covers all aspects of the rental application process from the submission of personal information, credit reports and custom offers to the e-signing of rental agreements. Submitting applications is free to tenants, which in some markets can instantly save them $200-$500 in application fees.
“We care about tenants who cannot afford to submit multiple applications, – that is why we made the application process free to everyone”, says Lubinsky. Rentberry asks tenants to pay only $25 dollars once the property is secured. In 2015, Rentberry successfully closed a Seed Round by securing almost $1 million from prominent investors, including senior executives from The Carlyle Group, IFC, Pegasus Capital, etc.
Today, the company has 12 employees and is led by successful Silicon Valley entrepreneur Alex Lubinsky.