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RentHop

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RentHop
Type of site
Real-estate, e-commerce
Available inEnglish
HeadquartersNew York
Founder(s)Lee Lin and Lawrence Zhou
Websitehttps://www.renthop.com/
Launched2009
Current statusActive

RentHop is an American real-estate marketplace and search portal that allows customers to search for housing using several filters and parameters. The company was launched in 2009 and serves 10 cities in the United States including New York City, Los Angeles, Atlanta and Washington DC.

Company history[edit]

Founding[edit]

RentHop’s founders Lee Lin and Lawrence Zhou were quantitative analysts in New York City and were looking for a place to stay in 2008. The search was difficult given the fragmented market and lack of accurate information available regarding listings, so they launched the website to provide renters with apartment data verified from different sources.[1][2] Lee Lin was the CEO since inception.[3]

Since its founding, RentHop has raised only two seed rounds of funding while the rest of the funds are bootstrapped.[3]

Growth[edit]

To grow the company, the founders got real-estate licenses to meet landlords directly. By doing this, they eliminated the broker fees and created structured housing listings for renters. The website was launched in July 2009 with 1,500 listings from approximately 500 landlords.[4] They also partnered with Y Combinator’s summer incubation program[2][5] and Pari Passu Realty in the initial days of the company.[1]

The company provides a “HopScore” which is a combination of the freshness of the listing, the quality of the rental listing and the performance of the manager.[6] As of December 2013, the company had 87,000 listings for New York City and by 2014, it expanded services with apartment listings in other states as well.[7][8]

After the Hurricane Sandy in 2013, RentHop partnered with FEMA to provide information on available apartment listings for the tri-state area, to aid disaster survivors impacted by the hurricane find housing.[9][10]

References[edit]

  1. 1.0 1.1 Grynbaum, Michael M. (6 February 2009). "Getting the Agent Without the Fee". The New York Times.
  2. 2.0 2.1 Cohan, Peter (December 20, 2012). "With Revenue Tripling, RentHop Makes Apartment Search Smarter". Forbes.
  3. 3.0 3.1 Staff (August 12, 2018). "On Bootstrapping a Company with Lee Lin, RentHop Cofounder and CEO | TAP-NY". TAP NY.
  4. Cook, Jon (8 October 2009). "Startup rental website takes on Craigslist". Reuters.
  5. Kincaid, Jason (July 11, 2009). "RentHop: Easier Apartment Hunting, Without The Broker Fee". TechCrunch.
  6. Henry, Alan (February 28, 2014). "Renthop Scores Nearby Apartments for Rent, Helps You Find the Best". Lifehacker.
  7. Wong, Joon (25 December 2013). "NY Property Firm Offers Discounts For Bitcoin Payments". Coindesk.
  8. Lawler, Ryan (February 13, 2014). "Apartment Listing Startup RentHop Opens Up Nationwide". TechCrunch.
  9. Staff (25 February 2013). "FEMA teams with two NY websites for listings". Crain's New York Business.
  10. Wiggin, Teke (February 26, 2013). "Rental sites feed listings to FEMA". Inman.

External link[edit]

Official website


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