Move Over Zillow And Airbnb, Here Comes VeryApt

Home ownership remains near an all-time low among millennials, as many millennials are choosing to rent in urban areas instead of buying homes on the outskirts of town or in suburbs. But while TripAdvisor and AirBnB are helpful for short-term hotel and rental reviews, and Zillow provides data for homebuyers, there has been no clear category leader in the long-term review-based rental market until now.

Enter VeryApt, the company that is positioned to win this trend by offering renters something no other site does: personalized recommendations similar to those on Amazon and Netflix as part of a trusted review community.

CEO Ashrit Kamireddi, who worked as a Traffic Acquisition Manager at TripAdvisor before meeting one of his co-founders at University of Pennsylvania’s The Wharton School, is excited about their prospects.

While at TripAdvisor, Ashrit was struck by how important reviews were to building user trust, and how the company was changing the way people book travel. He realized that long-term renters were missing a similarly elegant and trustworthy search solution.

The secret sauce to VeryApt’s success so far is that they go after buildings instead of one-off apartments. “Everyone looks at Craigslist and says ‘how do we improve CL?’” Kamireddi notes. “Instead, we focus on mid-size high-rise buildings with 50+ units, and work with the management company so we can actually get a sufficient number of credible reviews.”