This website offers web based tools and services for ‘residential real estate industry’ and aims at automating and creating transparency in the residential rental marketplace. It provides landlords a platform to communicate with their tenants, keep a track of the payments by billing, collecting, depositing and accounting updates. Thereby helping them in maintaining the properties they own through suitable advertising, finance management etc. The service caters to the small portfolio owners, i.e. those who own 5o property units or less. Tenants also gain as they are provided the option of paying the rent online. So, in a way it is a medium for both landlords and tenants to better manage their processes, interaction and information. This works for breaking the localized nature of rental market. The website claims to be the only service to process both checks and online payments. . ‘Rentometer’ is quite a useful and unique feature that is used to analyze the rent rates. This is done on the basis of information like rental address, city/ state, current monthly rent, number of rooms. Some of the certifications and awards have also been put on the home page.Show more screenshots »
This website is owned by a company called ‘Investment Instruments Corporation’ and is located in Boston. The founders of the website are Allison Atskinoudas (holds a bachelor of Architecture from University of Miami and masters degree from MIT and is the present CEO), Owen Johnson (also an MIT alumnus and present President) and Jeffrey Krause (the present Chief Technology Officer). It currently is credited with a substantial user base which it hopes to keep on increasing in near future.
This website differs from others as it combines several point applications into one complete solution. It also differs in the size of portfolio owners it serves. Several other similar applications cater large portfolios but this one is limited in this sense. ‘Rentometer’ makes it stand out among the crowd. This feature helps the landlords set optimum rent for the property. It eliminates the need for accumulating the required information through newspapers and online media.
An animated logo, along with the tag line “Happy Tenants Happy Landlords” welcomes the visitor to the site. The home page has a lot of information but it does not give it a messy look owing to its organized structure. Blue color has been used maximally with some green and red on a white background. This has given the website design an attractive look. A comparison on various grounds between the two plans offered on and animated explanation of how the processes occur is also fascinating.
Registration is possible only if you get an invite. There are separate logins for landlords and tenants and it is an easy process. Information asked is the usual one like, name, e-mail address and password. The account is created immediately. For the activation, one has to click on the link sent to the e-mail address given by the user. It takes only a few seconds for this activation e-mail to be sent. In the meantime, one can go for the two minutes Dashboard Video. This gives a demo of the way the account would appear. In addition to this, tutorial videos have been provided.
‘Rentometer’ is a free service. The money is primarily made via iiProperty’s monthly subscription. Some of the revenue is through the classified sites who charge for their own listings. Also, a syndication of private and corporate investors funds it. The site is not involved in any type of outside advertisement except for landlords who can advertise for their vacant properties.
The website is for all the landlords and tenants who face trouble in collecting and paying rental amounts. There are times when people have their land and similar properties spread in various locations. This at times, makes the task of collecting rent a pain in the neck. By using this application, the landlords can heave a sigh of relief as with many of the processes becoming automated, efficiency and time saving are the immediate benefits of the website. Using this website as the mediator to better convey messages to the other party, the development of a win-win situation occurs.