Apartment List Personalizes the Search for Home
- Commercial Real Estate
- CREtech Blog
- Residential Real Estate
Apartments may be plentiful, but that does not necessarily mean it is easy to find the right place to call home. It was the need to find a solution to that problem that led to the development of Apartment List. As renters and landlords, the developers of Apartment List understand the frustration that often exists in the current rental market. The goal behind Apartment List is to build greater trust and transparency between renters and landlords, while making the search for a home a more pleasant experience.
A Rapidly Growing Mobile Apartment Marketplace
Recognized as the fastest-growing online rental marketplace in the world, Apartment List offers a Webby-award-winning website currently pulling in more than 2.5 million visitors per month. Underscoring the fact that more apartment seekers are now on the go, 70 percent of the company’s traffic is mobile. Completely committed to ensuring the best possible mobile experience for users, Apartment List recently launched iOS and Android apps.
The firm, which is growing rapidly, has been named the third fastest growing company in the Bay Area. Fueling that growth is a significant amount of capital, which Apartment List managed to raise from a strong team of investors. Leading that round of funding was Matrix Partners. In 2012, Apartment List pulled in $10 million in revenue, all without the assistance of any venture capital.
Funding Rounds Drive Increased Features
Along with raising initial funding, Apartment List also acquired RentAdvisor in an effort to improve user experience by adding reviews to its apartment listings. The firm later raised an additional $6 million in funding. That round was led by Glynn Capital and Passport Capital. Apartment List put the separate rounds of funding to good use by providing more detail about the listings, including making more photos available so that renters would know exactly what they could expect. The company has also provided 3D floor plans for some of the listings.
Apartment List does not stop just with helping users to find the right apartment. The company also assists with applications and payments, providing a robust platform to ensure that users find the perfect home. One of the ways Apartment List accomplishes that goal is by aggregating apartment listings from literally hundreds of different sources from around the country. As a result, users are able to gain access to millions of apartments available for rent.
According to the company, Apartment Lists boasts more rental listings than Zillow, Craigslist, Trulia, ApartmentGuide, and Apartments.com in dozens of top cities across the country. Users are able to use a map-based interface to search for the right home by location, city, and neighborhood, ensuring the most specific search possible. Price filters are also available to assist users in searching for a home to meet their precise budget. Users can even narrow down their search by number of baths, bedrooms, or many other amenities.
As the rental marketplace becomes increasingly competitive and more consumers turn to online resources to find the ideal rental, Apartment List is well positioned to meet the needs of both renters and landlords.