Property Renting App Business

4 Property Renting App Business Success Stories [2024]

Pat Walls

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Updated: October 9th, 2024

Starting a property renting app business can turn complex property management into a digital solution. Imagine an app that simplifies finding and renting properties for users.

This business idea involves developing a platform where property owners can list their rentals and prospective tenants can browse, book, and manage their rental experience—all in one place. It's about bridging the gap between landlords and renters using technology, streamlining processes like viewing listings, leasing, and payments.

For anyone looking to dive into the tech world with a focus on real estate, this presents a compelling opportunity. The demand for more efficient rental markets is clear, and a property renting app could meet that need by offering convenience and transparency.

This business won't run itself—success will require a strong tech development team, consistent marketing, and excellent customer support. However, the payoff is significant as you build a platform that reshapes how people rent homes.

In this list, you'll find real-world property renting app business success stories and very profitable examples of starting a property renting app business that makes money.

1. TenantCloud ($12M/year)

The founder of TenantCloud, who grew up in a small reservation town, became both an investor and a landlord, experiencing the challenges firsthand. Recognizing the need to streamline property management for landlords, they created a product that combines various functions such as rent collection, tenant screening, maintenance scheduling, and accounting all in one platform, catering to the 15 million landlords in the US who own 21 million rentals and house 60 million tenants. With a projected revenue of $15 million in 2021, TenantCloud has achieved profitability and plans to continue growing by making strategic acquisitions in the future.

How much money it makes: $12M/year
How much did it cost to start: $250K
How many people on the team: 130

We Launched A $12M/Year Property Management SaaS For Landlords & Tenants

TenantCloud is a leading property management software designed to assist DIY landlords in managing their rental properties, with revenue projected to reach almost $15 million by the end of 2021.

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2. Casa Mia Coliving ($2.4M/year)

Eugenio and Ahmed, co-founders of Casa Mia Coliving, came up with the idea for their business after experiencing challenges with finding suitable accommodations while working in different countries. They saw the potential for coliving and decided to create a sustainable and modern coliving company in Singapore. Through their innovative approach and effective marketing strategies, Casa Mia Coliving has reached an annual revenue of $2.5 million and aims to double their business this year while launching in a second city.

How much money it makes: $2.4M/year
How many people on the team: 7

We Started A $2.4M/Year Coliving Business In Singapore

Casa Mia Coliving, a sustainable and modern co-living and property management company in Singapore offering affordable accommodation, has an annualized revenue of $2.5M with 150 bedrooms across popular neighborhoods, attracting young professionals and boasting a 10x LTV/CAC ratio, all while focusing on unit economics and profitable growth.

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3. Vacation Home Help ($1.44M/year)

cleanliness increased overnight. We lost some hosts. To address this, we implemented a rigorous vetting process for cleaning services and prioritized quality and consistency. We also implemented a feedback system where hosts can rate and review the cleaning services they work with. This helped us identify and address any issues promptly. In terms of customer acquisition, word of mouth has been our biggest driver. We provide exceptional customer service and go above and beyond to meet our customers' needs. We also leverage social media platforms and online communities to connect with potential customers and share valuable content. Additionally, our podcast has been a great tool for attracting and educating potential customers about the vacation rental industry and our services. Overall, our focus on quality, customer satisfaction, and providing valuable resources has been key to attracting and retaining customers.

How much money it makes: $1.44M/year
How much did it cost to start: $800
How many people on the team: 3

We Quit Our 9 To 5 To Start An Airbnb Cleaning Service. Now We Make $1.4M/Year

Former banker builds a vacation rental cleaning service from $800 to gross over a million dollars a year, providing opportunities for underserved communities to provide income through connecting top-rated cleaners to hosts in need through a referral model offering cleaning services, marketing, sales, accounting, bookkeeping, technology and more while empowering cleaners to provide fair and sustainable pricing, offering free resources and education through a short term rental podcast, and expanding to help as many hosts and cleaning services as possible.

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4. Send me South ($18K/year)

Marcia Solis launched Send me South in 2012 after realizing there was a need for legal services to assist expats looking to relocate to Costa Rica. The idea stemmed from her associate's frustrating experience navigating the country's immigration process, leading them to offer personalized services to guide clients through residency applications. While Send me South is not a profitable enough venture to make a living, its success lies in its commitment to providing top-notch service and a seamless relocation experience for clients from around the world.

How much money it makes: $18K/year
How many people on the team: 0

How I Started A $1.5K/Month Side Business Helping People Relocate To Costa Rica

Send Me South helps people relocate to Costa Rica by providing customized services for residency and property purchasing, with clients from all over the world, counting the United States of America, Canada, England, Jordan, UAE, Belgium, and Spain.

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Read by 3,688 founders