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When I was a college student renting an apartment in New York City, I learned firsthand that the rental process was overly complex and inefficient. My friends and I lost out on an apartment we really wanted simply because we couldn’t gather the necessary documentation fast enough.
That experience stuck with me, and it sparked an idea—why not electronically store all of the documentation you need to apply for rental housing so it’s always ready at your fingertips. So I built an app to do just that.
Along the way, I began talking to more people on both sides of the rental process, and I realized the issues went beyond just tenants.
Understand both sides of the equation
As I spoke with more landlords, I realized that they were just as frustrated as tenants, if not more so. I saw that independent landlords, in particular, felt a deep connection to their tenants and wanted them to have a positive experience. Yet, they were forced into a system filled with inefficiencies—using pens, paper, and spreadsheets to manage complex situations, resulting in logistical headaches.
Independent landlords told me about pain points they were struggling with: how to collect rent efficiently; how to handle maintenance requests in a timely fashion; how to fill vacant units faster; and how to create a rental experience that makes people want to stay. Meanwhile, the technology available was not cost effective nor purpose-built for them. The existing systems were designed for massive property managers with different issues and budgets.
Interacting with renters (and being one myself) revealed that renters value convenience just as much as their landlords. Tenants also struggled with outdated payment systems, maintenance requests getting lost or forgotten, and difficulties communicating with their landlords, making them feel dissatisfied and less likely to renew their leases. They wanted an easy way to pay rent, submit maintenance requests, and stay informed about issues (like property water shutoffs or garbage day changes).
Driven by the belief that there had to be a better way, I saw an opportunity to bridge this gap, making the renting process easier for both landlords and tenants. Listening to the needs of both sides was instrumental in turning a personal project into an industry-changing solution.
The power of customer feedback (and trust)
Since my desire to build a software platform was born from talking to potential product users, it was only natural that listening to customers has been the cornerstone of my product development approach. One of my biggest regrets was waiting too long before sharing the platform with potential customers.
I spent over two years building the first version without letting anyone use it because I was convinced it had to be “perfect.” I’ve since learned that waiting for a perfect or “customer-ready” product before releasing it is counterproductive.
In technology, quick iterations are important. If a technical feature or update can solve 50% of the customers’ problems, just release it. Helping people sooner is better than waiting until a solution is 95% complete. Plus, customer feedback will help refine and optimize the product along the way.
Once we got our product into customers’ hands, their feedback shaped everything. We learned that some features we thought were essential weren’t actually necessary, while others—ones we hadn’t even considered—became must-haves. By creating a direct feedback loop, we could pivot quickly, iterate fast, and build a product that truly meets users’ needs.
Both customers and investors are willing to take a leap of faith with you if they feel heard and included in the journey. We’ve built a technology platform alongside users, and that collaboration has been invaluable. By staying engaged with our customers, we’ve ensured that we’re delivering what they actually need, not just what we think they need.
A data-driven, customer-centric approach
Once you have a good process to incorporate customer feedback into the development process, adding and analyzing data provides an even higher level of alignment on goals and decision making. Data gives us the “why” behind our choices, creating transparency and understanding within the company. This approach allows us to focus on the “right” things—giving customers everything they need, and nothing they don’t.
As Steve Jobs once said, innovation is actually saying “no” to a thousand good ideas so you can focus on the most important ones, and I believe that wholeheartedly. Starting with your customer lets you focus on the most important ideas, and making data-driven decisions helps you refine those ideas and turn them into real solutions that help real people.
Case in point: We added a Credit Boost feature that allowed tenants to report their on-time rent payments to TransUnion to help them build credit and/or boost their credit scores. When analyzing our internal data over the past four years, we learned that landlords are likely to see a 13% jump in on-time rent payments when their tenants use it.
So this feature that was originally intended to benefit tenants was also benefiting landlords. Therefore, we added partnerships with Experian and Equifax, becoming the first property management software to enable on-time rent reporting to all three major credit bureaus, and we also made the feature available to landlords so they could purchase it for their tenants as an extra perk or amenity.
We used this approach to improve landlords and tenant relationships and lives many times. Some examples: offering autopay to reduce missed rent payments and late fees; providing customizable experiences such as template builders for pre-qualification and application processes; developing accelerated two-day funding for rent payments; and adding state-of-the-art security layers to protect landlord and tenant identities, protecting them against fraud.
We are continuously iterating, adapting, and refining the platform to ensure that renting is an easy and enjoyable experience for all. By focusing on these principles, we’ve created a platform that not only simplifies property management but also improves relationships between landlords and tenants. Investors can dedicate more time to their personal lives while growing their financial success, and renters benefit from a seamless, hassle-free process.
Embrace the entrepreneurial mindset
Ultimately, I’ve learned that success comes from a simple but powerful philosophy: Build only what’s needed, listen to the people who use your product, and always look for ways to make things better. By focusing on these principles, we’ve created a platform that simplifies property management and makes renting a better experience for everyone.
Renting shouldn’t be a battle—it should be a partnership. And that’s the future we continue to build.
Ryan Barone is cofounder and CEO of RentRedi.
