Konrad Fernández Krzeminska
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Problem - When one thinks of rental markets in urban environments the words chaos opacity and arcane often come to mind. Despite what many think (and how much money is made) most people know very little about residential rental markets simply because there is not much information available. Unlike for-sale markets that mandate the public recording of closed transactions at the municipal level or have central listing databases rental markets have neither. As a result rental parties guess when it comes to pricing and make poor market assumptions. In the end money is lost time is wasted and portfolios are poorly optimized. Our Solution - Kwelia has solved this limited information problem by using big data techniques to develop a proprietary model that re-prices rental units in urban markets. Off of this model we are building products that optimize portfolios forecast prices and provide critical intelligence needed to save landlords and property managers precious time and money. The Opportunity - Globally the UN predicts that 80% of the world will live in cities by the year 2050. According to the US census renters in large urban areas spend greater than 40% of their income on housing. In many of these markets over half of the housing units are for-rent. Simply we are becoming a world of renters yet we lack the sophistication necessary to efficiently distribute rental space. As these trends mature technological solutions will be called upon to ease the pain. Competitive Advantage - The basis of all Kwelia products is an internally derived proprietary model built off of a rapidly expanding database of rental market information. As such Kwelia will be able to deliver the worlds first truly affordable web-based rental pricing and intelligence application.