Startup Q&A - For Landlords and Realtors, NowRenting Is Providing Assistance They Need
Let’s face it, being a landlord has its fair share of challenges whether you are a first-time landlord or a veteran in the field. Same goes for realtors. The Providence, RI-based startup NowRenting has created a platform that is providing assistance for both.
We spoke with NowRenting Founder Edward Giardina about how his company is filling in the blanks when it comes to landlords' and realtors' leases with their clients and how the Rhode Island company is becoming integrated into the Boston tech scene.
CB: I’m always interested in how a startup came up with its name. How did NowRenting get its name?
EG: I went through a few variations of names. I landed on NowRenting and bought the domain. I loved the action piece of the name, the -ing is very powerful in my mind.
CB: I’m a big fan of the phrase “origin story.” What are the origins of NowRenting?
EG: When I first became a landlord, I began to wonder how people managed their investment property as well as their full-time jobs while still having time for a life. Every day would end with potential tenants’ contact information written on business cards, loose leaf paper or napkins. It was a big challenge, but my desire to grow my business outweighed the inconvenience.
I began looking for a solution, and what I found (or didn’t find) would come to define what NowRenting is today. They say that necessity is the mother of invention, and that couldn’t be more true of NowRenting. My focus would be to develop intuitive software that addressed my challenges as a landlord while keeping it affordable and on the cutting edge of industry technology.
CB: What is the ultimate goal of NowRenting?
EG: Our goal is to add efficiency to the rental process by helping real estate agents and landlords grow their rental business. NowRenting is a tool to replace the broken pieces of the rental cycle. Our ultimate goal is to become part of the larger property software family.
CB: Explain what your company does. If it’s a particular software/platform/service how does it work? Any use case that stands out to you?
EG: NowRenting is a software that helps fill vacancies by syndicating property listings to multiple listings sites and sending leads into the NowRenting Leads dashboard. Each Lead has a match percentage based on their answers to the pre-screening questions. From here users can send leads application forms, request background checks or filter out leads. Once a user has a great lead, they can start the lease process by sending a digital lease and collecting an e-signature. NowRenting is even set up to collect and send rent via ACH for free.
NowRenting is a streamlined tool for realtors to list and get leads to fill vacancies faster. They can get a lease signed on the spot and collect the realtor fee all in one product.
CB: How big is the team? Looking to hire any particular position in the upcoming months?
EG: We are a small but mighty team. With less than ten full-time employees and a few freelancers. At the moment we are not looking to hire. Once the user base starts to jump, we will look for more talent looking to work in Providence. In the upcoming months, I could see needing a few more account managers, marketers, and developers.
CB: Has your company participated in any trade shows/meetup events in the Boston area? What about events outside of Boston?
EG: Not yet! We are just getting started. The National Association of Realtors is having their annual conference in Boston Fall 2018. We are hoping to attend and market NowRenting or even have a booth set up. There are a lot of Real Estate Meetups in the Greater Boston Area we will participate in for user research and marketing.
CB: Any other additional comments you’d like to make?
EG: We are not a property management tool. We are a rental management tool for realtors and landlords. Our sister product Tenantly is the resident side of the NowRenting tool.
Images courtesy of NowRenting.