Does it really mean anything?
The partnership between DwellDown and MyHome.ie is a seismic shift for the property industry. For the first time ever in the online property space, a major player (MyHome.ie) has joined forces with a platform (DwellDown.com)that leverages users feedback to help paint a picture of the total rental experience. The collaboration of our two companies will help bring transparency into the property market. This will be good for both tenants and landlords. Tenants will get better value and our research states landlords should have happier tenants and less turn over.
DwellDown’s initial goal was to help tenants understand the value of the living experience against the rent being paid. The average tenant spends between 30-60% of their monthly disposable income on rent. Until our launch, there were are no tools available to help tenants measure what the actual living experience offered.
Unlike other major industries, the property market has been slow to accept user feedback as a pillar it can build on. Here’s a quick look of industries and companies that have been able to build extremely successful offering by relying on user feedback : travel industry(TripAdvisor, Airbnb), car transport (Uber, Lyft, BlaBlaCar), Restaurant (Yelp, FourSquare), Goods (Amazon, Facebook, DoneDeal.ie), University Accommodation (Loft Smart), University life (Niche.com)
What makes these companies very successful is that they offer an incredibly strong value exchange between the user and end product/offering. This value exchange creates a network effect growing both their user base and supply side, shaping a better experience for both parties.
The best examples would be Facebook and Amazon which have built empires by allowing users to share feedback on experiences and products.
How does Mapping MyHome.ie's available letting inventory on DwellDown help Tenants?
DwellDown is a discovery engine for tenants. Our platform helps tenants find the perfect neighbourhood and address to call home. In the past year, we have built 5 proprietary products : Verified Rental Rating, Neighbourhood Rating Algorithm, Neighbourhood Clarity, Insights API and Mapping 3rd party Available lettings in Dublin.
By mapping available lettings, we are now able to offer a complete review and search experience for those looking to find a home. For the first time ever, users have the ability to share their experiences, engage with neighbourhood feedback from locals and compare lettings side by side. DwellDown now can now help people find the right neighbourhood and address for them based on rental experience, price comparison, and local feedback.
These tools provide a solid platform for us to develop as a company and take our next steps.
Facebook : @DwellDownHQ