Answer: A Standards Organization.
Ultimately, we are a Standards organization, similar to LEED (which measures a building’s efficiency), WiredScore (which measures a building’s internet connectivity) or ISO (which sets standards for thousands of products.) Rentlogic measures the quality and livability of multi-family buildings and assigns a letter grade to each: A (excellent), B (good), C (needs improvement) and F (failure). Our grades are generated from data garnered from physical building inspections and publicly available records.
While we often get grouped into the “real estate tech” sector, at our core, we’re a tech company. We’re part of CivicTech, which is an intersection of people in the public and private sectors working together to ultimately make cities a better place to live. CivicTech is an emerging market, similar to GovTech (companies that build services to improve how governments operate).
Our business falls into a few different sectors: CivicTech, real estate tech, traditional tech, and even social impact. We and our investors measure our success not only by financial performance indicators, but social ones as well. We regularly interface with non-profit organizations in the housing advocacy space as well as landlord advocates, public officials and city council members.
We aren’t a listings company. There are tons of great sites that are already providing listings services, and we certainly don’t need to re-invent the wheel. In fact, we want renters to use other sites to find their apartment – as long as they use Rentlogic to check a perspective building’s grade before they sign a lease!