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Page 1: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •
Page 2: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

The Problem •  Rental applications are lengthy and repetitive •  Different formats, same information

•  New renters must apply to multiple rentals, given competitive marketplace •  Must ask references to accept phone calls from

multiple landlords •  Must fill out personal info time and time again •  Must put sensitive financial info and credit score in

hands of multiple agencies and landlords •  Application fees and credit checks create financial

burden •  Younger renters at disadvantage without rental

history, big bank accounts, stable jobs

Page 3: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

rentRef Solution •  Central online rental profile •  Like LinkedIn for rental applicants •  Applicants decide what information to share and

when to share it •  Empowers rental applicants to create a customized

profile that grows as they do

Today Tomorrow Next Year Future

Graduation Internship Promotion Family

Page 4: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Quick, Easy Rental Profile

Page 5: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Rental App Competitive Landscape

•  Current products serve the landlord first: •  Zumper: Common app for rentals •  Landlords pay subscription fee of ~$30/mo  •  Tenants pay credit check fee of $10

•  Lovely: Focused on apartment search, but also offers “RenterCards,” or mini common apps •  Charges landlords on per lead basis: ~$35 per

lead; $350 per signing  •  Common apps haven’t taken off as hoped •  Landlords aren’t burdened – easy to find tenants •  Rental applicants still underserved

Page 6: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Secret Sauce •  Centralized online profile means applicants do

the work once; use info forever •  Build It: •  Profile creation quick and easy

•  Iterate: •  Enter current info and request references for

workable profile today •  References post automatically as they’re completed •  Add additional credentials as earned

•  Own It: •  Applicants pick and choose which info to send to

each landlord •  Profiles easily tailored to meet needs of specific

landlords

Page 7: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Product Demo

Page 8: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Our Customers •  Initially targeting new college graduates in San

Francisco to help them compete in crowded rental marketplace

•  28,500 people ages 22-24 in San Francisco •  58% (16,500) have BA degree

•  Nationwide, ~11 million ages 22-24 •  5 million recent college grads

•  Landlords as secondary customers: •  Can also build a profile, advertise rental

inventory Eventually target all rental applicants and landlords

Page 9: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Freemium Biz Model •  Free to build, enhance and host rental profile •  $5 fixed fee each time applicant sends profile link •  Estimate 5 applications per customer •  $5 x 5 apps = $25 per customer

•  Conservatively assumes one-time use with additional upside if customer users rentRef for future move

•  Sale add-ons: financials, credit checks, etc.

•  Landlords can join, build profile, advertise listings for free

Page 10: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Market Potential*

•  In San Francisco alone: •  $25 per user x 16,500 new BA earners •  Yields $415,000

•  Nationwide: •  $25 per user x 5 million new BA earners •  Yields $125 million

*Just for 22-24 year-old demographic with BA degree

Page 11: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Low Cost Structure Fixed: •  Web design and

hosting fees •  Security, legal

fees •  Partner fees for

credit agencies •  Salaries for full-

time employees •  Insurance

coverage

Variable: •  Marketing •  Keyword-based

Google marketing •  Demographic-based

Facebook marketing •  Zillow, Trulia, Redfin,

other real estate sites •  College campus

marketing •  Additional legal fees

Page 12: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Our Team

LAURA FORMAN • Stanford MA in Data Journalism

June, 2015 • BA Princeton University, 2006 RYAN EBANKS • MBA Stanford GSB

June, 2015 • BA Princeton University, 2010 LIAM KANE-GRADE • Stanford MA in Data Journalism

June, 2015 • BA University of Wisconsin, 2014

HALEY SAYRES • Stanford MA in Communications

June, 2015 • BS Stanford University, 2014 MARY ANN TOMAN-MILLER • Stanford MA in Data Journalism

June, 2015 • BA Stanford University, 2014

We are renters from all walks of life: students, mothers, singles, professionals.

Page 13: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Opportunity Summary • Linked-in-like profile for rental applicants • Potentially disruptive offering, streamlining rental process and increasing information share • No real competition doing this • Freemium upfront biz model to attract customers in need • Online platform offers low costs, high margins • Large revenue opportunity, even in conservative market model • Data collected invaluable for major real estate players • Obvious add-on to any online real estate search company and/or broker dealer

Today we’re supplementing traditional rental applications. Tomorrow we hope to obsolete them.

Page 14: rentRef Final Pitch Deck - Stanford Universitydme.stanford.edu/wp-content/uploads/2015/06/rentRef_PitchDeck.pdf · The Problem • Rental applications are lengthy and repetitive •

Empowering Rental Applicants