Startup Creates Scrutinizing Rental App, Naborly, a Promising Answer to Landlords’ Prayers

rental-application-mobile-1With the real estate market flaring up to meet the countless needs of those it services, landlords are choosing to use a new digital tool in order to curb the number of applications they receive. Naborly, a new startup and mobile rental app, is here to ease that process for landlords and property owners.

Naborly is able to analyze up to 500 data points on potential renters. The method for screening tenants allows potential landlords to scour everything from Facebook profiles to employment history, warning landlords against those struggling to pay their rent and other red flags. Toronto-based Dylan Lenz founded Naborly and was encouraged to do so after traveling to India with his wife in 2014. Ahead of travel, they rented out their property reckless tenants, who caused $22,000 in damages. There were giant trucks of garbage on the property and the basement was flooded.

The unique app allows landlords to create custom tenant applications, which will collect information. Beyond credit scores, the app employs an algorithm that analyzes data and shares a score that allows landlords to read potential risks.

Naborly, to date, has processed more than 500,000 rental units in Canada and the U.S. There are two sides to the ‘Naborly’ coin: leasing with a horrible tenant can be detrimental for a landlord and tenants find that apartment searches can be a blood sport. For that reason alone, article after has been written about the nature of the apartment search, as well as how to access no-fee apartments.

Motherboard reports that the Bank of Montreal recently published a report, which indicated that 60 percent of Millennials surveyed voiced weariness about their rent, and 70 percent or so communicated a willingness to delay buying a home until they could afford it, opting to continue to rent in the meanwhile. This has caused landlords to become overwhelmed by applicants and applications; this is even the case for the shoebox-sized space regulated to the corner of a chilly basement.

An improved system for assessing tenants and reviewing credentials includes software that scours social media, verifies identity, reveal truths, and reviews macroeconomic trends. The Naborly screening process should make securing a tenant and an apartment easier. The app promises to level the playing field, and newbie landlords managed the lengthy process of finding the perfect tenant.

13 Incredible Real Estate Market Apps for Realtors, Renters

13 Incredible Real Estate Market Apps for Realtors, RentersThe real estate market can be a frustrating industry, but it’s also a buzzing market, which has experienced disruptions due to the development of innovate apps. The numerous apps have helped to grant access to properties across the board.

Brokers, buyers, sellers, renters, homeowners, and investors can better enroll themselves in the ambitious throws of the real estate market when looking to the following apps, enabling real estate insight and accessibility.

Mortgage Calculator: The easy-to-use-tool allows users better understand repayment requirements, providing accurate results and a schedule for complete repayment.

Sitegeist: Whether one needs to gather interesting demographical data or understanding community trends, this app may be able to grant insight about each spot location visited.

Dropbox: The simple cloud storage is an accessible solution that easily brings client large files directly to real estate professionals. They offer up to 2GB free.

PDFescape: The website provides a perfect solution for gaining a signature to digital versions of PDF documents.

Redfin: Redfin is a destination for agents, sellers, and brokers, Redfin is an app allowing for users in 83 major U.S. markets to browse and optimize search options. The app wins because hit that sweet spot, just in the center of service and technology.

DocuSign for Realtors: eSignatures and DocuSign Transaction Rooms are combined to create DocuSign for Realtors, which assists with the transaction of business.

Realeflow: This app is built for every investor, allowing for the management of contacts, deals, properties, comps, deals, marketing campaigns, sales activities, and websites

FlipComp: An innovative app facilitates house flipping investments by allowing investors to access the MLS in order to search and analyze properties. This is the  ultimate app for homebuyers, as its refreshed every 15 minutes, and there are photos, sales history, and intimate property details listed  on the website.

Trulia: Trulia is an incredible app that simplifies the calculation of mortgage payments, it has high-resolution photos and comprehensive information on crime rates and school ratings.

Houzz: This iOS app permits the streamlining of the renovation process. The seven-year-old business allows for sellers and buyers to peruse prospective buyer, home design, and sellers. It’s a directory offering real estate agents an opportunity to create a free profile.

HomeSnap: Widely considered the SnapChat of real estate, the real estate app provides real-time access to agent-only data, as well as unique branding efforts.

Zillow Real Estate: The multi-use real estate marketplace advertises a robust variety of properties to interested users. The app has integrated video features and realistic views.

Thanks to the aforementioned apps, a diverse variety of commercial and residential properties have become more accessible to buyers, sellers, renters, and homeowners, alike.

Commercial Real Estate Executives Are Optimistic About the State of the Market in 2016

real-estate-325285_960_720Commercial real estate executives are apparently optimistic about the state of the market in 2016, and many are predicting greater deal volumes for their firms. The influx of commercial real estate (CRE) tech companies are revolutionizing the industry due to the adoption of new technology. The U.S. CRE market is recovering, but executive recognizes that there are still certain segments are positioned for a significant decline.

Forbes Insights report, “CIT Commercial Real Estate Outlook: Key Findings,” was sponsored by CIT and offered insights about current trends, challenges, and the outlook for the U.S. Commercial Real Estate industry. The Forbes Insight report was conducted online between Feb. 12 and March 14, 2016, and 201 senior executives from CRE management companies, brokers, investors, financing executives, and attorneys were surveyed.

Approximately 53 percent of respondents indicated their segment of the market is either strong or very strong. Forty-four percent of executive surveyed said they agreed or strongly agreed that certain segments are poised for significant decline. Also, forty-seven percent of total respondents agreed or strongly agreed that the U.S. CRE markets are in recovery.

More than 60 percent of executives surveyed described their current market posture as optimistic. They described today’s market conditions as having a smorgasbord of opportunities and challenges. Upon reflecting upon the economy, executives have seen consumer confidence, interest rates, unemployment, U.S. tax rates, and the global economy, which are the five factors driving CRE investment. They also expressed moderate support for the government’s role in stabilizing the nation’s economy.  Approximately 48 percent believe a Republican win in the U.S. presidential elections would positively impact sectors where they’re currently actively.

The benefits of commercial real estate technology are fairly clear, and most executives agree that advancements are revolutionizing the industry. However, adoption is slow for many, and only 11 percent of respondents rated themselves as “leading edge,” with regards to implementation. Most respondents believe the stakes are higher and they struggle with the success of tech-enabled entrants into the industry and commercial real estate investments.

Approximately 71 percent of companies said adequate capital is available for investment and 24 percent say capital is available for “the right” deals. Slightly more than half of respondents said they were lengthening the duration of their financing in an effort to secure today’s relatively low rates over a longer period.  Emerging rules mandated that low-income housing is integrated with the affluent housing, delivering mixed results.

Charleston, South Carolina Clears $1 Billion in Commercial Real Estate Sales

BroadStreetCharlestonCharleston, South Carolina is a popular place along the east coast and voted one of the best places to live in the United States in 2014. With its 90 miles of beautiful coastline, vibrant culture, delicious foods and family-friendly atmosphere, it’s no surprise why this city had a breakthrough surpassing $1 billion in commercial real estate sales for the first time.

A smaller, yet stable market, Charleston, SC is seen by real estate investors as a place that is poised for continued growth. With its relation to the Atlantic ocean and reputation as a tourist destination, these factors alone are what make this city so desirable. A secondary signal and one that is very important are the effects and impacts of major American brands like Boeing and Mercedes-Benz opening new production plants. These companies aren’t opening small plants, these are expensive, massive operations that create jobs and opportunities to the surrounding areas. To provide you with specific numbers, Boeing’s Dreamliner plant has offered thousands of jobs since it opened back in 2011 while the Mercedes-Benz production plant for the next-generation Sprinter commercial van is expected to create 1,300 jobs.

So what does this all mean? Charleston, SC is on the map and becoming more recognizable outside of the beautiful coastal city it has been for so long. There are more demands for housing and jobs, and the city’s population is increasing as a whole, which triggers outside real estate investors to come in and purchase properties. According to a report by Colliers International, “there’s a growing demand for rental units and the consequent rise in occupancy and rental rates are driving investment in this segment.” These signs, coupled with a city that’s fundamentally robust, are good signs for continued growth for years to come.