rentRef Final Pitch Deck - Stanford...
Transcript of rentRef Final Pitch Deck - Stanford...
The Problem • Rental applications are lengthy and repetitive • Different formats, same information
• New renters must apply to multiple rentals, given competitive marketplace • Must ask references to accept phone calls from
multiple landlords • Must fill out personal info time and time again • Must put sensitive financial info and credit score in
hands of multiple agencies and landlords • Application fees and credit checks create financial
burden • Younger renters at disadvantage without rental
history, big bank accounts, stable jobs
rentRef Solution • Central online rental profile • Like LinkedIn for rental applicants • Applicants decide what information to share and
when to share it • Empowers rental applicants to create a customized
profile that grows as they do
Today Tomorrow Next Year Future
Graduation Internship Promotion Family
Quick, Easy Rental Profile
Rental App Competitive Landscape
• Current products serve the landlord first: • Zumper: Common app for rentals • Landlords pay subscription fee of ~$30/mo • Tenants pay credit check fee of $10
• Lovely: Focused on apartment search, but also offers “RenterCards,” or mini common apps • Charges landlords on per lead basis: ~$35 per
lead; $350 per signing • Common apps haven’t taken off as hoped • Landlords aren’t burdened – easy to find tenants • Rental applicants still underserved
Secret Sauce • Centralized online profile means applicants do
the work once; use info forever • Build It: • Profile creation quick and easy
• Iterate: • Enter current info and request references for
workable profile today • References post automatically as they’re completed • Add additional credentials as earned
• Own It: • Applicants pick and choose which info to send to
each landlord • Profiles easily tailored to meet needs of specific
landlords
Product Demo
Our Customers • Initially targeting new college graduates in San
Francisco to help them compete in crowded rental marketplace
• 28,500 people ages 22-24 in San Francisco • 58% (16,500) have BA degree
• Nationwide, ~11 million ages 22-24 • 5 million recent college grads
• Landlords as secondary customers: • Can also build a profile, advertise rental
inventory Eventually target all rental applicants and landlords
Freemium Biz Model • Free to build, enhance and host rental profile • $5 fixed fee each time applicant sends profile link • Estimate 5 applications per customer • $5 x 5 apps = $25 per customer
• Conservatively assumes one-time use with additional upside if customer users rentRef for future move
• Sale add-ons: financials, credit checks, etc.
• Landlords can join, build profile, advertise listings for free
Market Potential*
• In San Francisco alone: • $25 per user x 16,500 new BA earners • Yields $415,000
• Nationwide: • $25 per user x 5 million new BA earners • Yields $125 million
*Just for 22-24 year-old demographic with BA degree
Low Cost Structure Fixed: • Web design and
hosting fees • Security, legal
fees • Partner fees for
credit agencies • Salaries for full-
time employees • Insurance
coverage
Variable: • Marketing • Keyword-based
Google marketing • Demographic-based
Facebook marketing • Zillow, Trulia, Redfin,
other real estate sites • College campus
marketing • Additional legal fees
Our Team
LAURA FORMAN • Stanford MA in Data Journalism
June, 2015 • BA Princeton University, 2006 RYAN EBANKS • MBA Stanford GSB
June, 2015 • BA Princeton University, 2010 LIAM KANE-GRADE • Stanford MA in Data Journalism
June, 2015 • BA University of Wisconsin, 2014
HALEY SAYRES • Stanford MA in Communications
June, 2015 • BS Stanford University, 2014 MARY ANN TOMAN-MILLER • Stanford MA in Data Journalism
June, 2015 • BA Stanford University, 2014
We are renters from all walks of life: students, mothers, singles, professionals.
Opportunity Summary • Linked-in-like profile for rental applicants • Potentially disruptive offering, streamlining rental process and increasing information share • No real competition doing this • Freemium upfront biz model to attract customers in need • Online platform offers low costs, high margins • Large revenue opportunity, even in conservative market model • Data collected invaluable for major real estate players • Obvious add-on to any online real estate search company and/or broker dealer
Today we’re supplementing traditional rental applications. Tomorrow we hope to obsolete them.
Empowering Rental Applicants