It’s no secret the rental market is a mess, but Brisbane startup Rent Rabbit is already fixing things up. And with their EOI campaign, you can get in on the ground floor and clean up too.
This proptech startup established by siblings James and Ben Pretty has been classified “a sort of TripAdvisor for leaseholders”, such is the effect they’ve had on Australia’s disappointed rental market.
Lease Rabbit permits tenants to leave mysterious surveys of their rental experience – the upside, terrible and the absolutely dodgy. Individual leaseholders can then pay to get to these surveys before they focus on leasing.
It’s like moving into a spot that your handy dandy mate has lived in previously… or not, contingent upon how well they figure the landowner treated them.
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Capacity to the leaseholder
This capacity to share surveys on investment properties gives leaseholders back some power. Before Rent Rabbit sent off last year, tenants just had the advertised up posting and a five-minute examination to assist them with choosing whether to sign a tenant agreement. Taking into account the typical tenant agreement is worth around $26k, it’s not difficult to see the reason why a stage that brings data and, basically, straightforwardness to the rental cycle has tracked down a market so rapidly.
In excess of 20,000 leaseholders are as of now utilizing the help, which has recorded multiple million properties to date. The genuine audits clients submit are vital to Rent Rabbit’s worth and the organization utilizes extortion recognition and check programming to guarantee that main confirmed surveys are distributed.
Capacity to the financial backer
With such a clearly engaging prop, this crowdfunded stage is a thrilling speculation opportunity. Little miracle Rent Rabbit’s ongoing EOI crusade on the Birchal stage got around 200 articulations of interest in 24 hours – and then some.
It’s not only that Rent Rabbit takes care of a conspicuous market issue, there’s likewise a strong field-tested strategy behind the thought. The creative stage brings in cash in four key ways:
- Just property evaluations are free. There’s a set charge to see the full survey, some portion of which is imparted to the first commentator.
- A month to month membership model to open premium elements like TenantVault (where clients can store their rental records) and Suburb Insights.
- Promoting income from the site.
- Association and reference income from property specialists and proprietors.
Therefore, Rent Rabbit is developing like, indeed, hares. They have as of late sent off membership items for tenants and are focusing on an extension of their ‘leaseholder arrangements’ organizations contributions.
Lease Rabbit’s aspiration is upheld by their developing media presence, arriving at 1.4 million online entertainment sees in 30 days.
The size of the Total Addressable Market (TAM) is addressed by the 2.97 million Australian rental families and 8,000,000 Australian leaseholders and Rent Rabbit appraises their incipient market will reach $400m by 2026.
