Apartment hunting in Los Angeles can be very challenging. Would-be renters must examine yard signs, look through advertising listings, visit rental offices, and scan a host of websites. There is no one means displaying everything all at once on the market. Adding to the frustration, the feat of hunting down and phoning landlords, engaging in frequently unclear application processes, and attempting to beat other renter hopefuls to the front of the line can make locating an apartment possibly a disappointing waste of time. This frustration is no stranger to many Los Angeles apartment hunters, particularly as rents are increasing and available apartments are declining. These situations inspired an attempt to reconstruct the real estate industry.
About two years ago, a photo-guided mobile app called RadPad was set in motion, and developed with the capability of generating a list of local apartment rentals. Currently, RadPad’s directory consists of thousands of apartments, each with a listing of apartment details and a minimum of three corresponding photographs. It was learned that three or more photos achieved more responses. App users can share with others, or make contact with landlords. RadPad is also unfolding a mobile payment capacity to enable renters to bypass the check mailing routine every month, and also structuring a payment history to illustrate to future landlords.
Reportedly, at this time about 85,000 visitors from around the country have been attracted to the Los Angeles site. It is hoped its growth will continue with the attraction of more landlords. Most of its listings are acquired through a small amount of enormous syndication firms that combine rental listings and distribute them to a variety of online sites. Many small, private business owners do not use the larger syndications. In an effort to win over these landlords, free advertising is offered. The site is promoted as an area where quality residents can be found and has 10,000 registered landlords.
Los Angeles’ real estate market is tight. Many landlords are content to advertise in the old ways, and regardless of today’s unique technology, many people still enjoy driving through neighborhoods and looking at what is there. However, the progression to apps will continue to grow. A recent survey revealed that 44% of the new generation of renters reaching adulthood, stated their apartments were found by way of smartphones. With on-going product improvement, that number is expected to keep rising.