TurboTenant helps independent landlords improve the investment performance of their properties by offering them online tools that previously were only available to large property management companies.
TurboTenant is dedicated to providing landlords with technology that will “revolutionize the rental process” by saving time, boosting profits, and simplifying marketing. The company launched in January 2016, and in just seven months, more than 10,000 landlords had signed up. Today, that number exceeds 150,000 and continues to grow.— Founded in 2015 by Sarnen Steinbarth,
A brief history
The company had its first investor in June 2015, and development on the platform officially began the next month. Initial connections were made by invitation, and TurboTenant had its first landlord signed up in October 2015. From the beginning, TurboTenant had a large marketing budget dedicated to expanding the company through automated marketing strategies using HubSpot. In under two years, TurboTenant managed to expand its office twice, redesign its interface, and reach well over $2 million in venture investment. Even with all this growth, the company maintains a small team capable of changing direction quickly and will continue to experiment with its strategies to offer customers the best possible experience.
The power of data
TurboTenant has always understood the importance of data collection when it comes to efficient business growth. When customer data is treated as the backbone of marketing activities, it’s easier to predict how customers will behave in the future, determine what features to implement or improve, and enhance customer relations as a whole. By using customer analytics in their marketing strategies from the beginning and constantly streamlining their services, TurboTenant was able to achieve significant and rapid business growth, and these should be top priorities of any startup or small business.
Turbotenant in action
TurboTenant manages to offer its services free for landlords and charging an application fee for potential renters. Landlords go through a quick process to sign up for the service and begin reaping the rewards. Properties are added with any relevant pictures and information to show them off, and TurboTenant can then send this information to rental sites across the web. Potential tenants will be able to apply to properties from these third party sites or from a direct link, so the process is easy for all involved. TurboTenant can even help renters find properties matching their budget in their area as well as purchase renters insurance and help with utilities.
Of course, these services are updated continually. In just 2018, the company implemented 27 updates, including the ability to screen renters without their having to fill out an application. With just a renter’s name and email, a screening report including the renter’s credit score, criminal history, and prior evictions. Simplified lease management options and automated requests for landlord references were also among last year’s updates.
What lies ahead
Things won’t be slowing down in 2019. An improved dashboard is already among the updates for this year, as well as an option for an automated questionnaire to be sent to potential renters. This should cut down on time wasted between landlords and leads who aren’t a good fit for each other. It will be interesting to see what further improvements come as the year continues.
TurboTenant helps independent landlords improve the investment performance of their properties by offering them online tools that previously were only available to large property management companies. These features include online rental applications, tenant credit and background reports, property listings, and automated marketing. All of TurboTenant’s features are free for landlords.
Release ID: 492572