RenterIDHelping great renters

get great deals on great apartments

Initial AssumptionThe Customer:•Renters who are planning to rent a new property in the future•Landlords and management companies

The Problem (we assume):•Renter: The landlord charges fees to apply to rent, which are costly•Renter: It is difficult to show that as a high quality renter•Landlord: Credit check data is expensive to acquire•Landlord: there is overhead in validating a renter’s application

Major functionality to solve problem:•Rental history verified by independent 3rd party (fact checking)•Credit check on file for renter with profile•A reusable profile has been created for the renter

Gen 1Gen 1

#CustDev TouchesMethod Touches Outcome

Renter Survey 14 Initial feedback, open to profile, reluctant to pay

Landlord Survey (Long) 15 Landlords frustrated with fragmented tools, want central solution that’s accurate

Post-Pivot Renter Survey 9 Would pay for verification, would love to have search brought to them

VerifyApp: Mock-up feedback: Views / Feedback

292, 45 Feature/design feedback. Not that actionable

Landlord (E-Mails & Calls) 30 Rental history is more important than credit report

Renter (E-mails & Calls) 20 Found 2 “30+ min interview subjects”

Statements of Interest (LL) 7 A need to find qualified renters

Statement of Approval (LL) 4 Validation of pivot, up to 1 month’s rent

User FeedbackRe

nter

Land

lord

“It would be super useful, if I could get what I

was after” (L)

“It would be super useful, if I could get what I

was after” (L)

High quality renters should be wooed (JC)

High quality renters should be wooed (JC)

“To pay for something with

no guarantee is a tough sell (JZ)

“To pay for something with

no guarantee is a tough sell (JZ)

I would pay up to one month's rent just for a tenant's

verified rental history

I would pay up to one month's rent just for a tenant's

verified rental history

I would love to be able to find

qualified renters online. Screw the

brokers!

I would love to be able to find

qualified renters online. Screw the

brokers!

I would rather have a tenant's verified rental history than an actual

credit report

I would rather have a tenant's verified rental history than an actual

credit report

"Can I sign up today?"

"Can I sign up today?"

Pivot TableAssumption Lesson Pivot

Renters will pay up front Renters only want to pay if there’s a guaranteed value

“Verification” is an add-on to differentiate users, paid later

Renters want help in the rental negotiation

Renters want help in finding a deal on a great place

Use a renter profile as a means to connect renters and landlords

Searching isn’t a problem, there’s Craigslist

“Craigslist is a bitch” (GH), while it’s a great tool, it’s a lot of effort to do a search.

Make the search process easier by rewarding renters with matching landlords

Verifications are mainly good for a renter, so they should pay

Landlords want qualitative renter data beyond a credit rating as well

Let landlords pay to get access to these high quality renter profiles

After

PivotAfter

Pivot

Validation

4Signed Statements

of ApprovalSigned Statements

of Interest

7