Securing a rental property in the Bay Area is a tedious process for many. Los Altos couple Jonas and Rosalind Bordo hope their new home rental website, Dwellsy, makes it easier.
Launched in February 2019, Dwellsy is a marketplace for both renters and property managers. The Los Altos-based startup, which has a full-time staff of six, has already listed more than 8 million units.
“We believe that renting has historically played this role of second fiddle to homeownership in a way that is really not a great experience for renters,” Rosalind said. “A lot of people are renters for life, and we really see Dwellsy as a celebration of creating a resource that serves their needs and provides the kind of tools, data and information that they need.”
Baseline matching of renters with landlords is free of charge on the platform. Dwellsy uses a freemium model, which provides users with additional purchasable products to enhance their experience.
“There’s a variety of different products that are optional that people can purchase if they want to,” Rosalind said. “For example, somebody might pay a couple of dollars in order to get instant notifications when a new search matches their criteria. They do not have to buy it in order to find a rental or to get matched up with a landlord.”
Dwellsy’s listings are sourced from two places: property managers and private owners. They connect directly with property managers and owners through property management software. Dwellsy is keen on implementing no-fraud tools, to limit brokers’ ability to duplicate property listings, according to Rosalind.
“We’re very confident in the veracity of the data coming from there and we never scrape listings off of sites,” she said. “We don’t go and get second-hand data from anywhere. So it’s all coming directly from the source data, and we have a rigorous process incorporating fraud protection.”
The Bordos estimated that Dwellsy will expand to approximately 20 million units in the next year.
“There’s 110 million renters in this country,” Jonas said. “It’s one in three Americans, a huge audience, and we’re just really excited to be building a Los Altos-based company that is going to serve people right across the country and bring Los Altos to the country, if you will.”
For more information on Dwellsy, visit dwellsy.com.