Listen to this articleTenantCloud is a free cloud-based service for landlords and tenants where they can collect rent, pay online, communicate, store all their rental info, move-in/out tenants and send maintenance requests. Below is our interview with Joe Edgar, CEO of TenantCloud:
Q: Joe, how did the idea behind TenantCloud come about?
A: If you have rented or been a landlord then you know paper applications, endlessly driving around, phone calls, fax machines and paper checks still exists. The life of the average tenant and landlord consist of too much wasted time with things that could be automatic. I was also familiar with busy life of a landlord. After hours spent on paperwork I knew there had to be a better and cheaper way. This was the start of TenantCloud a free service that helps both landlords and tenants.TenantCloud was created, so landlords wouldn’t have to constantly input informing into some hard to access program. Instead it would use the information from others. That means you do what landlords do and we’ll do your accounting, so you only have to just hit a button and there is your report without having to input anything.
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Q: Can you give us more insights into your solutions?
A: TenantCloud is a complete end-to-end solution for busy do-it-yourself landlords. Our mission is to make renting easy. Landlords and tenants can receive/pay rent, receive/send applications, post move in move out pictures, assign and receive maintenance request, in other words do all key features modern landlords and tenants need to do in their busy life.
Also, TenantCloud is available on numerous devices, like laptops, tablets and mobile phone. All rental information is stored in a cloud account, so users can access it from anywhere. System security includes 128-bit encryption through SSL (Secure Sockets Layer) and data is backed up every 20 minutes, so information is available exclusively to authorized users.
Q: What are main benefits of using TenantCloud? How is it different than existing solutions?
A: TenantCloud focuses on an underserved market of do-it-yourself landlords and tenants of single family rentals. While established competitors focus on selling their software to large property management companies of apartment buildings, Tenantcloud’s service is free to landlords and tenants. Users are able purchase additional services from a number of national and local third party providers, who pay an access fee.
Other solutions are also dependent on the user inputting information constantly. They are management tools. TenantCloud has an account for tenants, service providers, owners and landlords, so when one has information than the others get it automatically. For example when a tenant pay rent in TenantCloud they get an automatic receipt, it goes to the landlord’s bank account and the landlord’s accounting is done without any input. Other solutions would require manual input of such a transaction.
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Q: You’ve recently announced a $2 million Seed funding; what are your plans?
A: Our team will be doubling with a joint effort in finishing our design and mission of making renting easy. With new features for payments, easy accounting and more integration with partners, landlords and tenants will be able to maintain their entire rental life in one easy place that has the top level of security.
Landlords will soon be able to purchase anything from a service to a product while their accounting is done for them. Tenants will be able to make their profile visible to the public with descriptions of what they looking to rent, so landlords can invite them to apply. Lot’s of new stuff to come.
Q: In terms of what you’ve learned from building TenantCloud, what advice would you give to future entrepreneurs?
A: The real estate market is so vast and is only starting to consider technology as a solution. There are many opportunities to be disruptive and I hope more entrepreneurs find better ways to solve everyday problems as well as be disruptive with technology never before seen.
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Real estate tech has major disruption to come. Already we are seeing things like book shelves, entertainment stands, the home office, filing cabinets and more are no longer needed which is equating to actual square footage changes. Developers and builders alike are having to build something different because of it. Soon glass will be a screen and flooring an interactive touch pad as technology starts to play a major role in real estate and entrepreneurs are going to make that happen.
Last Updated on March 5, 2017
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