RadPad is a website that allows renters to find new homes to rent, pay rent online, get renters insurance coverage, and set up their apartment’s utility services. On the website landlords or renters looking for a roommate also have the ability to list units for rent for other renters t see and consider for their housing needs.
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They actually dropped our rate down, and that allowed us to pass those savings on to our customers. So we dropped the rate from 3.25 when we launched about five months ago, down to 2.99 percent, which is a little less than Venmo, and then we made debit free. With Apple Pay, you simply tap a single button in the app, press your finger to your phone’s Touch ID pad and the credit or debit card you registered with Apple Pay is charged. RadPad takes the money, plus a 2.99% fee if you use a credit card, and then writes and mails a check to your landlord. Users provide the app with where they live, how much they pay and whom they send their rent to, and RadPad cuts the check. Thus, RadPad was born. Then in October, RadPad added a “pay my rent” feature that enables renters to pay their landlords with a credit or debit card. The search feature also includes drive times, calculating how long it would take you to get to work or the gym, and real-time text messaging to communicate directly with the landlord. Sure, you might get a free plane ticket with all the points you rack up charging your rent each month, but you could probably buy two with the money you’re paying in fees. Today we make money on Pay with RadPad. Our goal has always been to reduce the rates to save our customers money. The feature allows users to see whether their roommates have paid their rent, though not make changes to how much they’re paying or when it’s due.
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In what the company claims takes 90 seconds, renters set up recurring payments by entering how much they pay in rent and the due date; who to make the check to; where to send it; and what card to charge. Once a month, most renters have to dig out their checkbooks, place a check in an envelope, put a stamp on that envelope, and put it in a mailbox. RadPad is based in LA but landlords from San Diego and San Francisco have begun listing their rentals as well, Eppers said. Today landlords can come on and they can list apartments on RadPad, they can talk to renters through RadPad, and they can collect rent payments if they want. We don’t ever intend to charge for landlords to ever list properties. No. It’s 100 percent free for landlords to list properties. It doesn’t charge to list or find an apartment or for any communication between landlords and potetial tenants. List apartments for rent by owner, receive apartment applications, and quickly find a tenant. RadPad lets any tenant pay their rent from its mobile app or website using a credit card, a debit card or — in the case of the iPhone users — via Apple Pay. Enter RadPad, a Los Angeles-based rental listing app startup that thinks there’s a better way — the option to pay your rent from your phone, using a credit card, debit card, or, most recently, Apple Pay. As we come into the summer, you’ll see several things we’ll be launching that will help landlords better manage their inventory and also screen renters.
There had to be a better way. RadPad’s other business is in apartment listings, which Eppers describes as way more modern than the competition. 60 fee. He couldn’t find many listings with more than one photo. RadPad has 600,000 rental listings in Los Angeles, Chicago, Washington, D.C., San Diego, San Francisco, Miami and Houston, with plans to expand to five more markets by June. The “find a pad” part of the business enables users to search for listings by location with a “tap-and-swipe” map. Instead of typing in a location, tap the map to select a neighborhood, then swipe your finger around the map and zoom in and out to expand your search. He also pointed out that RadPad is the second-most-downloaded rental app in the iOS and Android stores besides Trulia. “The judgement against RadPad is nothing more than theatrics that Craigslist can now use to scare the living hell out of other startup companies that threaten Craigslist’s existence, which is the genesis of this entire case against us,” he wrote. But in the future they’ll be able to do a lot more things on RadPad. Klein is co-founder and CEO of his own startup, Tiesta Tea, and he spends a lot of time on planes. It’s a lot easier for the younger crowd, for whom mobile payments are becoming the norm. 13 million, to the success of these mobile payments. Eppers’ mobile rental marketplace aims to help renters not only find a place to live but pay their rent.
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