Landlord-tenant software RentRedi completed a seed funding round in September 2019 to the tune of $1.4 million. The software was created in 2016 to simplify property management for small and medium-sized landlords and their tenants.
— Marking the end of their first venture-backed round for 2019, RentRedi continues to pick up steam as investors and U.S. landlords take notice. The New York-based tech startup secured $1.4 million from leading early-stage venture capital funds including TIA Ventures and RiverPark Ventures as of September 2019.
Co-founded and developed by Ryan Barone and Ed Barone in 2016, RentRedi is a landlord-tenant software and app for landlords that simplifies tasks, such as rent collection, tenant screening and prequalification, property listing, maintenance requests, communication, and accounting.
As a student, CEO Ryan Barone first noticed the stressful red tape and complexity he experienced while filling out tenant applications and realized that the problems were doubled for smaller landlords with limited resources.
“When we started building the technology, we talked to a lot of landlords and listened to their problems. They wanted a solution that was tailored to them and their tenants, rather than just for the large property management companies. Large managers charged high fees and had software tailored to them, while smaller landlords were stuck cataloging everything with pen, paper, and spreadsheets. The feedback I received and the specific issues they brought up drove how we built the app, focusing on the features that mattered most to small landlords across the U.S., ” explained Ryan Barone as the main reason for developing this app.
When asked where the new investment capital would be used, RentRedi co-founder Ed Barone stated that the main beneficiaries of these newly acquired funds would be the landlords using the product:
“Our business model centers on constantly customizing based on owner feedback, which is rare in the tech world because you either get platforms that don’t allow any sort of customization whatsoever or in which customization is possible, but it’s really expensive. Everything that’s been built into RentRedi is because an owner asked for it. We don’t charge anyone for that, and once it’s ready, we make sure that the new feature is available to everyone.”
With that goal in mind, the price for this enterprise-level solution has been kept purposefully low ($20/month per landlord, regardless of the number of associated tenants or properties) to remove traditional barriers to entry and provide high value-added service to small and mid-sized landlords at an affordable subscription price. To learn more about the app interface and its features, click here.
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 next-business-day payments, communicate with tenants, and manage maintenance with video. It has partnered with platforms including TransUnion, Zillow, Trulia, HotPads, 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.
About Ryan Barone
The brain behind RentRedi’s software and mobile apps, Ryan Barone is also the company’s Co-Founder, CEO, and CTO. Ryan previously worked at Goldman Sachs and Pricewaterhouse Coopers (PwC), and graduated #1 in his class with a double major in economics and mathematics and minor in computer science.
About Ed Barone
RentRedi’s financial and marketing pointman, Ed Barone is the Co-Founder, CFO, and CMO of this entrepreneurial tech venture. He is also the Founder and CEO of Souders Brand Marketing, a custom commercial merchandising and advertising company in Albany, NY. Ed has 28 years of experience in sales and marketing, he’s general contracted five residential single-family homes, was formerly a licensed real estate agent, and has lived through the guarantor experience four times.
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