PocketList Launches to Help Renters Find their Next Home Months Earlier Than Ever Before

LOS ANGELES, July 15, 2020 /PRNewswire/ -- Today, PocketList, the only renter-powered housing platform on the market that enables renters to find homes before they are publicly available, officially launched after less than one year in stealth mode. PocketList's rental marketplace includes tens of thousands of units with verified feedback from current and past tenants, giving an honest and transparent view of a potential home. The app is live today in Los Angeles, where PocketList has grown to over half the size of its largest competitors in the market with over 20,000 rental units on its platform. PocketList will launch in San Francisco and San Diego later this year, with Seattle launching in early 2021, and Chicago and New York to launch soon after. PocketList also announced it has raised $2.8MM in Seed funding, led by David Sacks' Craft Ventures, with participation from Abstract VC and Wonder Ventures, and angel investments from Zillow co-founder Spencer Rascoff and others.

Rentals sit vacant for an average of 26 days every time they turn over, according to PocketList's internal data. This lag time represents a $43B loss for property owners nationwide and puts further pressure on supply-constrained housing markets. PocketList drives average vacancy times as close to zero as possible. Currently, the average unit on PocketList is shared 67 days before the landlord is given notice, and 97 days before the unit appears on other listing sites.

"Renters have been forced to wait until the last minute forever, but they have more power than they think. They're the only ones who know when they'll be moving in the future, so the stressful 'wait and see' issue can easily be eliminated for renters and landlords," said Nick Dazé, co-founder and CEO of PocketList. "We're tapping into the power of earlier information and transparency for the benefit of everyone. When renters share a 'heads-up' on when they're moving and insights on what it's like to live in their old place, they're alleviating a huge uncertainty for their fellow renters."

"Bringing transparency to real estate has been a nearly 20-year process, and the apartment market is only just getting there," said Spencer Rascoff, PocketList investor, and founder of dot.LA and Zillow. "PocketList takes transparency to the next level, bringing exclusive 'pre-market' inventory into the light, and it's no surprise that renters have flocked to the service."

Renters can now download the PocketList app for free, rate their current home and, in turn, gain access to "PocketListings" with verified insights from current and past renters. PocketList is available for renters, while PocketList Pro serves property managers and landlords.

PocketList Features for Renters:

• Earlier, more honest intel about the rental market
• Share and unlock insights: Renters unlock PocketList by anonymously sharing info about current units including expected move-out date. This goes beyond standard unit info to include "quality of life" factors, such as natural light and noise.
• Engagement tools
• Inquire, discover, vote: Renters can ask current tenants questions about potential units, and the community can upvote the best questions and answers. When a unit becomes available, renters can chat directly with landlords and property managers in the app
• Favorites: Units can be saved to a user's Favorites List, and they will be notified when new information is posted and when a 30-days notice is given.
• Security
• Privacy first: No contact info is shared with the property manager until the renter submits an application, protecting the renters' personal info
• Avatars and last names are hidden from property managers until the renter submits an application to prevent discrimination.

PocketList Pro Features for Landlords and Property Managers:

• Better insights about properties and competitors
• Property managers and landlords can claim their properties for free and view unfiltered feedback from renters, as well as competitors in the vicinity of their properties.
• Earlier access to potential new tenants
• Landlords and potential tenants can directly communicate about units once their prior tenant gives notice, building trust between landlords and their prospective tenants before they move in

Features Coming Soon:

• Areas V2
• "Areas" is a first-of-its-kind discovery tool focused on neighborhoods and their unique attributes, helping potential renters find homes that fit their location and lifestyle.
• Whether a renter wants to be walking distance to the beach, be near the hottest shops and restaurants, or is a student needing to be close to campus, PocketList will highlight the best available rentals with those specifications.
• Better lease applications and tenant approvals
• More landlord response tools, renter resumes, and direct submissions of applications will all be coming to the app in the near future.

"Given the way the current rental market is set up, there's almost always a gap between when a renter 'needs to find a place' and actually 'rents a place," continued Dazé. "PocketList breaks the cycle and gets people into homes they love earlier than ever before."

For more info on PocketList, or to find your next perfect place, please visit www.pocketlist.app.

About PocketList Inc.
PocketList is the only renter-powered housing platform on the market that enables renters to find homes for rent before they are publicly available. Founded in 2019 by Nick Dazé and Julian Vergel de Dios, and based in Los Angeles, PocketList's mission is to help renters and property managers achieve better housing outcomes through transparency and collaboration. To learn more or download the app today, visit www.pocketlist.app.

SOURCE PocketList

Related Links

https://pocketlist.app