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We replaced rental brokers with software and filled 200 vacant apartments

caretaker.com

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Re: We replaced rental brokers with software and filled 200 vacant apartments

#291

Earlier quoted context omitted.

Please see: ticket sales: Ticketmaster, Stubhub, etc. In theory, these make sense and reduce anti-consumer inefficiency like scalping that individual venues are not equipped to deal with. In practice, they extract fees. It's not that they are bad, per se, just that if the opportunity exists, someone with a spreadsheet will spot it, likely with the best intentions but no eye to the overall impact. EDIT: To be clear, I…

Not sure about Stubhub, but Ticketmaster exists to be the bad guy. Lots of Ticketmaster fees are shared with the promoter and venue operator.

I'm dubious about that line. It always read like Ticketmaster trying to deflect blame to me.

But I do note that "the artist" isn't even mentioned in that list.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#292

Earlier quoted context omitted.

Spoiler: the landlord is just passing that cost to the tenant. It's like in Canada where tenants can hire a broker for "free" to find a rental. However the broker just collects 1 month rent from the landlord. Do you think the landlord just absorbs the cost? No, the quoted rent was just 8.4% higher when the broker mentioned he was a broker.

So the market clearing price is $1084 but the landlord rents it out for $1000? Why is he leaving the other $84 on the table when dealing with non-broker applicants?

I think brokers are still in the property game because landlords typically aren't sufficiently informed to know that they can avoid paying a broker, or can shop around for a cheaper one.

Brokers have done a good job of telling landlords that if they don't use a broker, or use a cheap one, that they'll get bad tenants and that'll cost them a lot in the long term. Good broker = good tenants = worth getting 8.4% less, because you'll lose more than 8.4% when a bad tenant burns the place down....

I'm unconvinced that the above is true, but it's certainly the message brokers (fairly successfully) give landlords.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#293

Earlier quoted context omitted.

>- It is now cheaper for the average person to get a ride to an airport/bar than it was before. Is it? Or are venture capitalists just footing the bill? Whatever model of "price" you use needs to take into account the fact that not only are Uber and Lyft lighting enormous piles of Saudi money on fire to "gain marketshare" but that the actual drivers are being paid peanuts. This isn't pure win, it's more like Nestle h…

What market did they destroy? The money went directly to US engineers and US drivers. The US should be blessed that Saudi is so bad with its money and so willing to subsidize Americans. It destroyed the money of people who had bought up medallions. That's it. Having medallions was not a long term solution when the city can now charge rideshare services for miles/minutes/rides on the road without any hard cap for poli…

The US may not feel so blessed when the Saudis decide they want some of that money back.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#294

Earlier quoted context omitted.

Uber and Lyft are 100% a win though. - It is now cheaper for the average person to get a ride to an airport/bar than it was before. It is safer, more predictable with timing, and more predictable with pricing. - Uber drivers make more money today than taxi drivers used to/or do today. There are also way more job openings in this than there used to be, with less friction to get involved. The world is not a zero sum ga…

In most countries Uber has been a disaster for drivers, to the point of outllawing it.

I agree it has probably been a disaster for existing taxi companies in every city. But only in the same way the internet has been a disaster for the phone book companies. Or that Netflix was bad for Blockbuster.

Just because some countries don't value competition - and prefer to cater to existing entrenched lobbying groups - is not compelling evidence to the average American that Uber is bad.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#295
post #279
post #209

Earlier quoted context omitted.

We've gone through a bunch (including the Igloohome locks mentioned in the post) and landed on Yale's Assure line, specifically the YRD216 model with a physical keypad (not the touchscreen). Deployed in 100s of homes now (we're also property managers) with really no issue. We use Z-Wave to control but their modular system allows for Zigbee as well. I would avoid the Schlage "Smart Deadbolt" model. At least when it co…

I agree 110% with this! The touchscreens confuse new people not used to it. As far as Schlage, yeah... let's just say there's a few folks in the Home Assistant community (and us too) who are not super impressed with their protocol implementation. btw which z-wave controller do you guys use for the Assure?

We're using Smartthings, specifically the old graph API that gives somewhat easy programmatic access. Very interested in what yall are doing with Seam (we spoke for a little bit at the virtual event YC had earlier this year). With Samsung I'm always worried some new VP is going to going to get shuffled in and decide that Smartthings has had its day in the sun.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#296

Earlier quoted context omitted.

Brokers taking money from renters is ridiculous and should be done away with. Landlords hiring brokers to deal with vetting and showing an apartment and all those logistics seems pretty reasonable and up to the landlord if they feel it’s worth the value.

Spoiler: the landlord is just passing that cost to the tenant. It's like in Canada where tenants can hire a broker for "free" to find a rental. However the broker just collects 1 month rent from the landlord. Do you think the landlord just absorbs the cost? No, the quoted rent was just 8.4% higher when the broker mentioned he was a broker.

Landlords can't pass costs to tenants. The rental market is completely supply inelastic. Landlords are already charging the maximum renters are willing to pay.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#297
post #192

Earlier quoted context omitted.

USA is a big place, but OP is talking about NYC specifically before COVID. At that time you were liable for the full amount until the end of the lease. Landlords could sit on empty boxes and sue you for the entire amount. Whether they want the hassle is up to them, but you couldn't compel them to do anything. It does sound unfair, but see here for supporting sources https://www.nolo.com/legal-encyclopedia/tenants-rig…

Your own link says that NYC landlords are required to mitigate damages by seeking a new tenant.

Yes, as of July 2019, which is not the context of the OP discussion and why I said "at the time..."

Re: We replaced rental brokers with software and filled 200 vacant apartments

#298

    "The rent of the land, therefore, considered as the price paid for the use of the land, is naturally a monopoly price. It is not at all proportioned to what the landlord may have laid out upon the improvement of the land, or to what he can afford to take; but to what the farmer can afford to give. "
-- ch 11, wealth of nations

    "As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce."
-- Adam Smith

    "[the landlord leaves the worker] with the smallest share with which the tenant can content himself without being a loser, and the landlord seldom means to leave him any more."
-- ch 11, wealth of nations.

    "The landlord demands a rent even for unimproved land, and the supposed interest or profit upon the expense of improvement is generally an addition to this original rent. Those improvements, besides, are not always made by the stock of the landlord, but sometimes by that of the tenant. When the lease comes to be renewed, however, the landlord commonly demands the same augmentation of rent as if they had been all made by his own. "
-- ch 11, wealth of nations.

    "RENT, considered as the price paid for the use of land, is naturally the highest which the tenant can afford to pay in the actual circumstances. In adjusting the lease, the landlord endeavours to leave him no greater share of the produce than what is sufficient to keep up the stock"
-- ch 11, wealth of nations.

    "[Landlords] are the only one of the three orders whose revenue costs them neither labour nor care, but comes to them, as it were, of its own accord, and independent of any plan or project of their own. That indolence, which is the natural effect of the ease and security of their situation, renders them too often, not only ignorant, but incapable of that application of mind"
-- ch 11, wealth of nations.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#299
post #295
post #279

Earlier quoted context omitted.

I agree 110% with this! The touchscreens confuse new people not used to it. As far as Schlage, yeah... let's just say there's a few folks in the Home Assistant community (and us too) who are not super impressed with their protocol implementation. btw which z-wave controller do you guys use for the Assure?

We're using Smartthings, specifically the old graph API that gives somewhat easy programmatic access. Very interested in what yall are doing with Seam (we spoke for a little bit at the virtual event YC had earlier this year). With Samsung I'm always worried some new VP is going to going to get shuffled in and decide that Smartthings has had its day in the sun.

Yes I remember our convo! Also, i really don't like to be the bearer of bad news, but I was talking to their Venture team and unfortunately that ship has already sailed. They've sold the hardware business to Aeotek and are progressively scaling down the team :(

Ping me at sy@getseam.com and lets see if I can get you going with some beta units.

Re: We replaced rental brokers with software and filled 200 vacant apartments

#300

Earlier quoted context omitted.

What market did they destroy? The money went directly to US engineers and US drivers. The US should be blessed that Saudi is so bad with its money and so willing to subsidize Americans. It destroyed the money of people who had bought up medallions. That's it. Having medallions was not a long term solution when the city can now charge rideshare services for miles/minutes/rides on the road without any hard cap for poli…

The US may not feel so blessed when the Saudis decide they want some of that money back.

Huh? Uber is a publicly traded company now. If Saudi sells its shares of Uber the company valuation will dip some but otherwise go unchanged.
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