A new Canadian venture has entered the real estate space, promising to help citizen landlords and property owners a smoother renting experience.
Vancouver-based Pendo Rent is a free online service that delivers an end-to-end solution for owners to manage all of their rental properties. The platform includes a live dashboard which providing an at-a-glance health check on tenants, financial transactions and more.
The startup is a resident of Invoke Labs.
“The real estate technology space is booming, and we’re excited to launch a product that addresses critical pain points for a large but under-served segment of the rental market,” said Invoke Labs managing director Keith Ippel.
Pendo Rent's service targets individual landlords and smaller residential buildings, not big property management companies—landlords who don’t consider managing a rental unit their full-time job, and want a simple and efficient way to stay on top of their rental properties.
“We placed strong emphasis on designing clean, easy to use tools, that enable users to maximize their financial returns from their rentals, while minimizing their time and manual effort," said Vincent Cauwet, Pendo Rent’s Head of Product. "We believe we offer a superior solution to the existing services available—and a much more practical option than the spreadsheet or filing cabinet that the majority of rental owners are using to keep track of tenant and financial information."
Pendo Rent also aims to remove the antiquated cheque-payment system that most citizen landlords still operate on. Canada-based users can collect online rent payments through Pendo Rent’s integration with VersaPay, a feature that will be offered for US users eventually. Also in the works is an iPhone app.