Rent Hop News

There’s an app for that!

Posted in Rent Hop News on October 15th, 2013 by Rob – Comments Off

Today we announced the launch of our new mobile app for rental property managers, which you can get for free at the iOS App Store (https://itunes.apple.com/us/app/renthop-manager/id695651355).

Rental property managers now have an easy way to connect with renters searching for quality apartments, to update their listings data, and to “check-in” using our new mobile app.   With the check-in feature, managers can broadcast their location in real-time and instantly schedule showings with interested apartment seekers.  Listings available for appointments on demand receive a higher HopScore and so will appear further up in the search results at www.renthop.com.

Our site also features a live map for consumers in the NYC area displaying where all rental property managers are checking in so they can immediately reach out to schedule an office consultation or view a specific property.

RentHop's new Appointment on Demand map

Our new Appointment on Demand map

The mobile app includes:

  • Messaging – to send notes and communicate with renters in real-time from a mobile device.
  • Listings – to repost and update listings from the mobile device and reflect instantly on RentHop
  • Check In – to notify renters that managers are immediately available to show listings.  This is then reflected in real time on our site.

We’re really excited about this new development and we look forward to serving you!

Did you see us in the Wall Street Journal?

Posted in Rent Hop News on January 11th, 2013 by kat – Comments Off

Photo via Natalie Keyssar for the Wall Street Journal

We talked about the challenging year ahead for NYC renters. Read it here.

For a full rundown of our 2013 predictions for the rental market, check out our last post.

Did you see us in Fast Company?

Posted in Rent Hop News on September 27th, 2012 by kat – Comments Off

10 Things Not to Forget When You’re Looking at Apartments

Posted in Apartment Hunting, Rent Hop News on August 8th, 2012 by kat – Comments Off

We gave Boston.com some advice on the apartment hunting process. Check the piece out here!

“When it comes to apartment hunting, most people have a checklist of items that their future living quarters must entail. Two bedrooms? Check. One bath? Check. Proximity to public transportation? Check. But there are many more subtle features that often get overlooked, but can be just as important once the renter gets settled into his/her new digs.

Lee Lin, CEO of RentHop, the smarter apartment search marketplace, offered advice of other apartment “essentials” to look for.” Read more…

RentHop + Chicago = Awesome

Posted in Rent Hop News on June 26th, 2012 by kat – Be the first to comment

Bulls, Bears, Fans of Ferris Bueller,
We’d like to announce that RentHop is officially launching in Chicago today!

Nice to meet you, Windy City Hoppers. We already know what makes Chicago great (Wieners Circle, the Art Institute, ChicAGoGo), but here’s a little bit about what makes us special. RentHop doesn’t just sort your searches by price or posting date. We sort by quality.

We rank apartment listings using the HopScore, which is powered by set of sophisticated algorithms that our geeky founders cooked up. What goes into the HopScore, you ask? Here’s a quick look:

(Publicly available) Info that helps us gauge the quality, timeliness and completeness of the listing (you wouldn’t want to look at a listing without photos, right?).
+
The internal track record of the listing within RentHop (price drops, how many inquiries an apartment has received, etc.).
+
The previous behavior of the broker or landlord offering the apartment (how quickly they respond to your inquiries, for example!).
+

MIT wizardry

= HopScore
For our Chicago launch, we’ve taken the 3 years of data we’ve gleaned from NYC and partnered with fellow Y Combinator backed company YouGotListings to help seed and calibrate the initial scoring. But over time, the site will train and adapt based on usage patterns specific to Chicago searches.

Oh, and as always, RentHop is free for apartment hunters, and for a limited time, managers joining in Chicago and Boston will earn a free lifetime basic membership.

Comment here if you have questions, or tell us how we can best help you find the most awesome apartments in the Windy City.

The RentHop Team

 

And the NYC RentHop Winner is….

Posted in Rent Hop News on May 14th, 2011 by Lee – Be the first to comment

Congratulations to Guillaume Derouet for posting our one millionth New York City rental listing!

http://www.renthop.com/listings/waverly_ave/_/1000000

We actually didn’t expect to cross the mark until near the end of the month, but the renter AND landlord activity has been growing at a break-neck pace.  Keep of the good work everyone; I’m so glad the community continues to thrive and evolve.

Many of you have also noticed the recent design changes that Lawrence has implemented, both in the landlord dashboard and the main list-based apartment search.  However, one of my favorite changes has been the new and streamlined NYC apartment map search.  When we first began, three years ago, the map page was our original and only search mode!  Back in the day we plotted every listing in Manhattan on the Google map, using some clever JS hackery to keep the performance acceptable while juggling thousands of listings.  As we’ve grown, however, we realized that renters tend not to want to see every possible listing.  It’s much more important just to see the high quality, highly relevant posts.   Now, for the first time ever on RentHop, we’ve fully integrated our trust score and search rank algorithms alongside the location-based filtering.

Give it a shot!
map_20110514

Nearing one million posts since inception!

Posted in Rent Hop News on May 5th, 2011 by Lee – Be the first to comment

Within the next few days, we are expecting to reach our one millionth NYC apartment listing ever posted on RentHop.com!  If you are the lucky landlord or broker to hit the big million, then let us know and we’ll gift you 1,000 free RentHop credits for posting on CraigsList, buying featured listings, or many of the our premium features in our landlord dashboard.

evil_million

Deal Grab Bag: Parker Towers 875 sqft from $1900 (Forest Hills)

Posted in Rent Hop News on December 26th, 2010 by Lee – Be the first to comment

Best location in Forest Hills – Size Matters

Apartment 2K– Fully Renovated 1BR with private balcony875 SF * $1900
Our Largest One Bedroom, kitchen features granite countertops and stainless steel appliances, marble bathroom with hand carved vanity. FLOOR PLAN

Apartment 6W – Corner Two Bedroom with private balcony1033 SF * $2050
Gigantic Two Bedroom Apartment, corner private unit, new wood flooring throughout, large living room, abundant closet space. FLOOR PLAN

Apartment 16V – Fully Renovated 3BR with private balcony1327 SF * $3000
Fabulous Three Bedroom featuring kitchen with granite countertops and stainless steel appliances, two marble bathrooms with hand carved vanities, huge private balcony, and great views. FLOOR PLAN

Call us today for the latest updates of our new listings.  888-256-0135

Email me, Shari Forrest, directly with any questions HERE

We are happy to give broker preview tours.

104-20 Queens Boulevard
Close to transportation: E, F, M and R Subway Lines and LIRR
Our Web Site

Leasing office hours:
Monday through Thursday from 10-7
Friday from 10-6
Saturday/Sunday from 11-5

How Good Brokers Raise Their Consulting Rates

Posted in Rent Hop News on December 4th, 2010 by Lee – Be the first to comment

For those who do consulting work, a once counter-intuitive secret is now common knowledge:  accepting a lower hourly rate often means having a more demanding, more obnoxiously clueless, and more frustrating client.  The theory is the lower paying clients don’t know the value of high quality work, or are generally on a lower budget and need to try and squeeze the most value out of their dollar.      We don’t blame them; these clients can be good career starting points, plus we appreciate life much more once we graduate to better opportunities.  An established freelancer has plenty of clients knocking at his door, so the easy filter is sticking to a higher rate and avoiding all the charity work in the lower rungs.

For anyone wondering about hard numbers, looking for coding work contracted for less than $60 an hour in the US is the equivalent to searching for a rent controlled apartment.  It will be tough to find and will certainly be full of deficiencies, but sometimes you have no choice.  As the client, you expect and accept the problems and look forward to upgrading when your situation improves.

Real estate professionals unfortunately don’t have as direct a way to raise their consulting rates.   I know there are skeptics, but it’s true; excellent brokers do exist and there is enormous variation in skill between the great ones, the average, and the terrible.  If you’ve never met a value-adding broker, then it’s because you are the client who wants a programmer at $10 an hour.  I’ll explain shortly.

Say I’ve got 5 clients who all want me to show apartments this weekend.  Three want studios under $1800 a month, one wants a 1BR in Brooklyn, and the last one wants a 2BR in Financial District, preferring a luxury high rise.   Well that’s obvious, right?  Unless one of the clients is a solid word-of-mouth referral, I need to guess that all 5 will convert at the same rate, but as a broker I get about $1800 on the studio guys, I probably can’t convert Brooklyn because I’ve never bothered to preview there, but I’ve got a slew of OP luxury highrises in FiDi that pay $4500 on conversion.  While I’m there, I learn more and more about the other luxury high rises so I’ll be more prepared for the next set of 2BR Wall Street roommates.  By corollary, I becoming more clueless about Brooklyn and the low-end studios relative to my luxury high rise knowledge.

Brokers ensure their deals close while keeping their clients happy and informed throughout the entire transaction process.  In my experience it’s pretty obvious by closing whether the co-broker was good or sucked.  Unfortunately for the good ones, real estate commissions cap out at 6% for sales and 15% for rentals.  How do they do the equivalent of raising their rates?  Easy, they just reject clients who seek lower priced transactions.

Hilariously, the public actually thinks the opposite.  “Why should a Realtor get $60K selling a $1M house for doing the same exact work as a Realtor who gets $12K selling a $200K house?”  Well, the answer is they are clearly two very different Realtors.  One is a veteran consultant charging $500 an hour, and the other is an entry-level player building credibility at $100 an hour.

Herald Towers Bucks the Winter Incentive Trend

Posted in Rent Hop News on November 10th, 2010 by Lee – Be the first to comment

Most landlords decide to add incentives to reduce their vacancy rates as we head into the Winter season.  After all, most rational people try to avoid moving in the cold  weather, around holiday season.   Even many brokers decide to stop working or reduce their hours once the peak March to October rental season ends.   Still, for those who have no choice but to do a Winter relocation (or the clever ones who try to stay off peak cycle), there are usually plenty of deals to go around!

Unfortunately, New York City real estate is in a strange situation right now, where landlords are cautiously optimistic that the local economy is rebounding and the sudden lack of spending propensity in the past two years is finally reversing course.  What we’re seeing is that higher end, modern luxury buildings are piling on the incentives, as evidenced by the previous post regarding 505 West 37th.  At the more competitively priced end of the spectrum, we are actually seeing cutbacks, despite being in roughly the same neighborhood.  The Vogue at 990 Avenue of the Americas reduced OPs earlier this year, and just today, Herald Towers sent this OP reduction to their brokerage network.

Herald_towers_end_op

Stay tuned as we move deeper into the off-peak season.  As always, we try our best to stay up-to-date on the latest New York Apartment deals and incentives around the city.