Expansion propels Alcove as an industry leader in the booming rental industry
DURHAM, N.C., April 13, 2022 /PRNewswire-PRWeb/ -- Alcove, a platform that enables shared living in any rental property, today announced its expansion into the greater Atlanta area. The platform's expansion comes at a time when the rental market's competitiveness is surging, and renters and landlords alike need a way to seamlessly rent properties.
Targeting the $200 billion rental industry, Alcove's platform converts single family rentals into shared living homes that are flexible and affordable for young professionals. Through the platform, renters can easily find per-bedroom leases and roommate groups, all in one place.
Given that 80 million Americans are living with unrelated roommates, Alcove saw the need for a safe, reliable, and modern platform to find move-in ready bedrooms within 24 hours. By partnering with homeowners and property managers, Alcove is able to provide renters with a vast array of affordable options that were previously unavailable to them.
Alcove's platform includes a suite of tools for homeowners to screen tenants and rent properties for 10% to 30% over average market price. On average, Alcove renters stay at a property for 15 months, decreasing the time a property is vacant and losing money. Additionally, Alcove's insurance policy and thorough background checks give property owners peace of mind that they are fully covered if any property damage were to occur.
"We are in a really unique time in the history of the rental industry," CEO and Co-Founder, Colin Tai, said. "As rent continues to rise, tenants are feeling increasing pressure to find a place to live that offers flexibility. Alcove is able to solve this problem by offering renters more places to live at an affordable price, while increasing income for landlords. We are finding that both parties benefit from our platform and we are really excited to bring this offering to Atlanta."
Alcove will be releasing dozens of new properties around the Atlanta area every month. For more information or to find your next rental unit, visit http://www.alcoverooms.com.
About Alcove:
Alcove is a platform that enables shared living in any rental property. Today, more than a third of American adults live with unrelated roommates, which makes this the largest fragmented market in the US. Finding roommates with similar location, budget, and timing preferences is an incredibly difficult process, especially for those who are newly relocating. Alcove solves this by helping renters find move-in ready bedrooms within 24 hours.
With more than 1,000 members already on the platform and dozens of properties listed weekly, Alcove is rapidly growing in the Southeast and providing housing in a way not previously available – with plans to expand nationally coming soon. Learn more and chat with us at alcoverooms.com.
Media Contact
Allie Haywood, Alcove, 1 2058733015, [email protected]
SOURCE Alcove
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