Photo - Propzie
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Propzie

Automating Short-term Rental

USA, New York
Market: Real estate
Stage of the project: Operating business

Date of last change: 10/25/2018
Min investment
$  100.000
0
Total required
$ 1.100.000
Rating
equalizer 180 из 1000
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Idea

All-in-one solution for fully automating short-term rental management, including property and channel management and a subscription-based service provider marketplace

Current Status

Propzie launched in 2017 without any technology and that year alone we grew 600%! In 2018 we were able to grow another 180%, reaching a cash-flow of 500K and now we ready to scale.

Market

The property management business for the short-term rental market is a 13.5B industry.

In the United States alone, 260 million guests booked stays in 2017 and this number is expected to grow to 600 million by 2020.

Problem or Opportunity

Guest turnover: To run a short-term rental homes need to be guest-ready.

Time: Management is intensive and a full-time job

Money: Existing technologies are expensive and cost-prohibitive

Solution (product or service)

Short-term Rental Automation

* Channel Management
Manage several listing websites from one place

* Subscription Marketplace
Subscribe and automate operational tasks such as
cleaning, laundry and toiletries refills

* Property management
Prepare reports and oversee performance

Competitors

Airsorted: New in the short-term rental market with fast growth

Metrobutler: Short-term rental property management in NY

Hosttonight: New start-up competitor

Advantages or differentiators

All-in-One Solution for Full Rental Automation. The short-rental business in “auto-pilot”.

Finance

1- We take 8% to 15% from each reservation payout - (Commission based per number of units)

2- We take 9 % from each marketplace transaction

Business model

Subscription based model

Money will be spent on

We will use the capital to improve product, setup customer services and get ready to scale in other majors cities.

We deliver a fantastic product by hiring exceptional developers who are not the cheap. The more features that we are able to integrate into our product, the larger the addressable market size. Our primary go to market strategy is via online marketing, specifically SEM, Social media marketing and PPC. We are build in referrals to get earned customers from realtors and brokerages but we are going to scale through that channel.

Our customer and revenue growth is therefore proportional to the amount that we allocate to marketing spend. There is no point in spending a lot on marketing if we don’t have a great product and there’s no point in having a great product if no one finds it!

Offer for investor

Shares and Convertible notes

Team or Management

Risks

Operating Costs – Short-term rentals have several different costs that traditional long-term rentals don’t have. These costs include everything from supplying the toilet paper to replacing furniture and appliances. When deciding whether or not to join the short-term rental industry, you should carefully consider the operating costs.

Competition – With the recent explosion in new short-term property rentals popping up all over the country, competition is picking up. However, the industry is still relatively new, meaning that competition isn’t out of control and there’s still room for more.

Rental Restrictions – Another major risk to short-term rental owners are rental restrictions. These restrictions are proving to be a challenge to the fast-growing short-term rental market.

Incubation/Acceleration programs accomplishment

Starta Venture - Accelerator Program

Won the competition and other awards

NA

Website address

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video
Website address