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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

#441

Post by TeMPOraL »

crazygringo wrote: post #424
pydry wrote: post #395

Earlier quoted context omitted.

If they still end up charging 15% for doing the same thing automated there hasn't been any meaningful economic progress. There's just concentration of wealth. If they can cut that 15% to 1% and this field ends up being competitive then sure. But, they're probably going for a monopoly play here.

It doesn't matter if they're trying to go for a monopoly play here. Competitors would arise and there wouldn't be any inherent monopoly dynamics left. So of course the percentage will be cut. That's how competition works.

It's a two-sided market, it's gonna be winner-takes-all.

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

#442

Post by throwaway19937 »

beisner wrote: post #420
p_j_w wrote: post #269

Earlier quoted context omitted.

>I don't care what replaces it What if the replacement is worse?

Such a system is not possible.

Things can always get worse.

Consider what would happen if brokers disappear and your application is rejected by an AI from a company that most landlords use.

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

#443

Post by Scoundreller »

lazyasciiart wrote: post #342
bko wrote: post #285

Earlier quoted context omitted.

> On average, in certain locations. In others, not so much. And let's not forget surge pricing. Or people living, or wanting to get to a place, along low-profit routes. Or people with disabilities. You can always take a regular cab. Low profit routes were pretty much impossible to get pre-Uber. I am almost certain that Uber is more likely to obey disability laws than "Joe's taxi" with a few cars. > Depends. Regular t…

> I am almost certain that Uber is more likely to obey disability laws than "Joe's taxi" with a few cars. Knowing the lawsuits from people who've been refused rides from a regular Uber because they have a service dog, or their wheelchair 'probably won't fit' (I think I can tell you whether the wheelchair I usually put in the trunk of a car is likely to fit in your trunk, thank you), I am not. But there are also speci…

UberWAV (wheelchair accessible vehicle) is a thing in “select markets”: https://www.uber.com/us/en/ride/uberwav/

No idea how it works in practice but it’s a thing in Toronto.

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

#444

Post by tjalfi »

an_opabinia wrote: post #76
literallycancer wrote: post #33

Earlier quoted context omitted.

So the landlords just make the rent more expensive to account for having to pay the broker, what changed?

> So the landlords just make the rent more expensive to account for having to pay the broker, what changed? Nothing. Clearly brokers are doing something or else people wouldn't pay for them. My theory is the broker fee has positive selection for wealthier tenants, which for every property - low or high rent - makes for an economically better tenant. Raising the rent has the same effect. We care that there's cheap ren…

> Clearly brokers are doing something or else people wouldn't pay for them.

There's a great Joel Spolsky comment[0] that explains why landlords use brokers. They perform work that would otherwise be done by the landlord.

https://news.ycombinator.com/item?id=9961727

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

#445

Post by ForHackernews »

boringg wrote: post #159

Caretaker: The redfin of brokers. Take all the value for themselves freeze out the brokers (who provide a service but are universally disdained). Ride that wave of positive news for a couples years. Eventually everyone will hate the fraction of the market Caretaker has as they raise prices to make investors happy and people realize there are problems. It's like the same idea of Uber and Lyft. Less human involvement =…

Good. Freezing out useless middleman occupations is a net positive for humanity.

The difference is that cab drivers provide a real and valuable service, whereas real estate agents are a glorified key safe.

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

#446

Post by bombcar »

TeMPOraL wrote: post #421
AJRF wrote: post #302

I recently moved house. I was previously living with my friend, and we had an agreement I pay sometime before the end of the month. He gave me a contract and said you'll need this, just because when you go to the next place they will ask you for your previous contract. He found it online, it was boiler plate and we agreed verbally I pay him whenever during the month. We we're really good friends, and I lived there fo…

> They said they couldn't override the software - which I don't believe at all. This is why I'm worried by - no, I hate - the automation of bureaucracy, governmental and business alike. Software is giving bureaucrats the perfect escape hatch. "I'm sorry, but The System won't let me". The System won't let a low-level clerk fix the mistake some algorithm made. You escalate to the manager, but The System won't let them…

You can always override the system somewhere, but nobody gets fired for doing the System.

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

#447

Post by rurp »

tobiasSoftware wrote: post #375
AJRF wrote: post #302

I recently moved house. I was previously living with my friend, and we had an agreement I pay sometime before the end of the month. He gave me a contract and said you'll need this, just because when you go to the next place they will ask you for your previous contract. He found it online, it was boiler plate and we agreed verbally I pay him whenever during the month. We we're really good friends, and I lived there fo…

I have a similar story. I got married and my wife moved to my state and was in the middle of the process of getting a license when COVID hit. She had gotten a learner's permit to practice for the driving test, and it expired but got extended due to COVID. We decided it was finally time to sort out the mess. However, to get that learner's permit required her to take a couple written tests. We were told she would have…

I had a similar DMV experience. My login for the online site wasn't working so I went to reset the password, but after entering my information it said I had no account. Ok I thought, I'll create a new account. Of course when I tried that, using the same information I tried to reset the password with, it failed saying that I already had an account.

There was no direct way to contact anyone on the website and the person I spoke to at the physical office told me to contact the state headquarters. After multiple calls and emails I finally got ahold of someone involved in the website... who completely blew me off.

Every year when my registration came due I'd give it a few more tries, hoping to avoid a trip to the office. Finally after almost a decade I got someone to actually fix my account. Even then they didn't admit that anything was wrong on their end, they tried to gaslight me and pretend it was working this whole time.

This was enraging and the only cost was some inconvenience. I'm terrified of this happening with a critical service.

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

#448

Post by bko »

lazyasciiart wrote: post #342
bko wrote: post #285

Earlier quoted context omitted.

> On average, in certain locations. In others, not so much. And let's not forget surge pricing. Or people living, or wanting to get to a place, along low-profit routes. Or people with disabilities. You can always take a regular cab. Low profit routes were pretty much impossible to get pre-Uber. I am almost certain that Uber is more likely to obey disability laws than "Joe's taxi" with a few cars. > Depends. Regular t…

> I am almost certain that Uber is more likely to obey disability laws than "Joe's taxi" with a few cars. Knowing the lawsuits from people who've been refused rides from a regular Uber because they have a service dog, or their wheelchair 'probably won't fit' (I think I can tell you whether the wheelchair I usually put in the trunk of a car is likely to fit in your trunk, thank you), I am not. But there are also speci…

Because people can actually sue Uber and they can get a lot of money and publicity. You can't sue Joe's taxi. I mean you could try, but I don't think people aren't suing because they are follow all applicable laws and regulations to a tee

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

#449

Post by munk-a »

jollybean wrote: post #340
AJRF wrote: post #329

Earlier quoted context omitted.

OP here - Estate agent asked for 6 months bank statements, which I assume was requested by the referencing agency. I don't think is common practise in the U.K, but I asked around and lots of people told me it is more common that the larger agencies ask for it, plus it was for an apartment in a very competitive development so I feel like it might have been a forcing function to reduce the amount of applicants but that…

"Estate agent asked for 6 months bank statements, " WTF. That's a crazy practice. Paystub maybe, but bank statements? My gosh.

I don't know where in the world you are - but the American solution to this problem are a series of organizations that constantly ingest a massive amount of financial data around what transactions you're executing and then sell it to the lender without your knowledge. I'd be happy to be the person actually handing over so much of my financial data instead of it being harvested without my consent.

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

#450

Post by [deleted] »

mathgladiator wrote: post #432
TeMPOraL wrote: post #421

Earlier quoted context omitted.

> They said they couldn't override the software - which I don't believe at all. This is why I'm worried by - no, I hate - the automation of bureaucracy, governmental and business alike. Software is giving bureaucrats the perfect escape hatch. "I'm sorry, but The System won't let me". The System won't let a low-level clerk fix the mistake some algorithm made. You escalate to the manager, but The System won't let them…

Computer says no: https://www.youtube.com/watch?v=0n_Ty_72Qds

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