Skip queues for rental apartments

[augmsweden]

Hey all, just read the Millionaire Fastlane and I'm in the process of figuring out a need to solve.

In Sweden, where I'm located, interest rates are way up and it is expensive to buy your own place. Add to this the fact that prices for apartments have skyrocketed during the last years, and it's not surprising to see that the percentage of people that choose to rent is increasing. However, this can be problematic since you often need years of queue points to qualify for a rental contract.

Heres the idea. A web based service that connects people looking for an apartment to rent with private landlords. Tentants add info about their salaries, references from previous landlords, info about any problems regarding debt (there is a service in Sweden where you can check if someone has struggled with paying their debts), etc.

Private landlords are not required to follow a queue system. Therefore, the idea is that they pay per referred customer that meets their standards. This way they don't have to spend time verifying all the details mentioned above.

Landlords get to choose from verified, selected renters and renters with good qualifications don't have to spend years queueing for apartments. Landlords pay a fee for each lead and renters pay a small monthly fee for access to the system.

Any ideas, critique and opportunities I may have missed would be very welcome. Thank you!

 

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[Panos Daras]

The idea seems brilliant. I am surprised that it does not exist already. The thing is that ideas are next to worthless without proper execution.

 

[augmsweden]

The idea seems brilliant. I am surprised that it does not exist already. The thing is that ideas are next to worthless without proper execution.

Thanks for your reply! I agree - execution comes next.

There are similar services available, but all focus on queue points which means the landlord ”has” to accept the tenant with the most points. This system gives landlords the possibility to choose from verified tenants who have showed interest in their apartments.

 

[Dockid]

Hey all.
I'm currently working as a doctor which I want to be able to keep doing. However, I want to be able to choose when I work, not be forced to work 8 hours Monday to Friday for the rest of my life. I just read the Millionaire Fastlane which really opened my eyes and got me thinking.

In Sweden, where I'm located, interest rates are way up and it is expensive to buy your own place. Add to this the fact that prices for apartments have skyrocketed during the last years, and it's not surprising to see that the percentage of people that choose to rent is increasing. However, this can be problematic since you often need years of queue points to qualify for a rental contract.

Heres the idea. A web based service that connects people looking for an apartment to rent with private landlords. Tentants add info about their salaries, references from previous landlords, info about any problems regarding debt (there is a service in Sweden where you can check if someone has struggled with paying their debts), etc.

Private landlords are not required to follow a queue system. Therefore, the idea is that they pay per referred customer that meets their standards. This way they don't have to spend time verifying all the details mentioned above.

Landlords get to choose from verified, selected renters and renters with good qualifications don't have to spend years queueing for apartments. Landlords pay a fee for each lead and renters pay a small monthly fee for access to the system.

Any ideas, critique and opportunities I may have missed would be very welcome. Thank you!

Hey. Checkout HomeHak. They do something very similar to what you have described.

 

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[svekk1]

Moved recently to Sweden and heard and saw that this is a serious problem here (I was lucky). As far as I know, if you go the landlord way, theonly available options are facebook marketplace and blocket and places like that, sothis might have some potential.

However it might be difficult as I imagine all the landlords would want the same high-quality renters.

Would the renter pay your fee only until they are looking for a place? They would'nt be incentivized once they find something I think.

 

[augmsweden]

Hey. Checkout HomeHak. They do something very similar to what you have described.

I definitely will, thanks for the tip!

Moved recently to Sweden and heard and saw that this is a serious problem here (I was lucky). As far as I know, if you go the landlord way, theonly available options are facebook marketplace and blocket and places like that, sothis might have some potential.

However it might be difficult as I imagine all the landlords would want the same high-quality renters.

Would the renter pay your fee only until they are looking for a place? They would'nt be incentivized once they find something I think.

Thanks for the input!
The idea is that landlords will post available apartments on the website, and tenants who click a "I'm interested in this apartment" button will be sent to the landlord as a lead. This way, the each landlord only receives leads regarding tenants that are seriously interested in their property.

Yes, renters would only pay the monthly fee until they find a place. That's one of the arguments for our service compared to the big local competitor (charges $35 yearly to stay in the queue).

 

[svekk1]

I definitely will, thanks for the tip!


Thanks for the input!
The idea is that landlords will post available apartments on the website, and tenants who click a "I'm interested in this apartment" button will be sent to the landlord as a lead. This way, the each landlord only receives leads regarding tenants that are seriously interested in their property.

Yes, renters would only pay the monthly fee until they find a place. That's one of the arguments for our service compared to the big local competitor (charges $35 yearly to stay in the queue).

I think it might work. I read a great book recently, recommended on this forum somewhere. I think it's great concept for market testing.

The Right It by Alberto Savoia.

 

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[augmsweden]

I think it might work. I read a great book recently, recommended on this forum somewhere. I think it's great concept for market testing.

The Right It by Alberto Savoia.

This books sounds like it would be perfect in this early stage. What was your biggest and most valuable takeaway from it?

 

[svekk1]

This books sounds like it would be perfect in this early stage. What was your biggest and most valuable takeaway from it?

The importance and possibilities of market testing before investing too much time, money and effort in something that is not surely needed. Doing this by collecting your own data instead of using other people data. Data beats opinions!

Nothing too new or groundbraking but it helped understand the importance of it.

He also has a youtube channel with the same name of the book's title. Most concepts are covered but nut in such detail as in the book of course.