We live in the digital era of images and videos. You might think that indeed photos are everywhere, but that doesn’t mean they have a huge impact in real estate, on a final sale or renting of an apartment. I beg to differ. If you want to get your apartment rented online or via a mobile app, photos make all the difference in the world.
And there is a photo-based mobile rental marketplace that proves my point. It’s called RadPad and, since its launch, the idea was that each renter had to provide three quality photos. Why? So that the final client would be able to see the apartment and form an opinion fast – on mobile – so that he or she doesn’t spend a lot of time to visit an apartment and see that it is not what he or she was looking for.
As it often happens, the idea of this app appeared in a moment of frustration and disappointment. And since its launch (when it covered only Los Angeles) the app grew and grew and people in many cities use it now to rent an apartment.
To emphasize more the importance of photos, RadPad recently launched a special algorithm called PadRank which basically evaluate the quality and accuracy of their listings in real-time. Another interesting aspect: “PadRank’s job is to assign every listing on RadPad a score, and decide if the score meets a threshold that is high enough to show the listing to renters on RadPad.” While calculating this score, the quality of the photos is an important factor (not the only one).
RadPad does something else: it sends checks to landlords. If a landlord prefers a check instead of a card payment, then the user can use a debit or a credit card, pay the rent and RadPad handles the rest and sends the check to the landlord. How’s this for an interesting feature?
You have to agree that the idea of this app is an interesting and useful one. Those who rent an apartment can see how it looks, so they can decide faster if they are or aren’t interested in a listing. It saves time and nerves for everyone.
The app was recently included in a top 13 real estate tech startups to watch (first position in the top) by CB Insights.