#85 Will Coronavirus Kill This Deal?

Platform Concept

Ofo Ezeugwu introduces the innovative concept of "Who's Your Landlord," a platform designed to empower renters by allowing them to review landlords before signing leases. This idea stemmed from his experiences at Temple University, where he witnessed numerous housing complaints, particularly from female tenants facing harassment and other issues 1. The platform not only provides renters with a voice but also offers landlords a dashboard to engage with tenant feedback, aggregating reviews from various sources like Google and Yelp 1.

There had to be some way you could review your landlord before ever signing a lease so you know what you're getting yourself into.

--- Ofo Ezeugwu

With reviews in over 275 cities, the platform has gained significant traction, being recognized as a top app for housing searches in New York City 2.

   

Revenue Models

The revenue model for "Who's Your Landlord" is primarily based on a subscription SaaS model, charging landlords $1 per unit per month. Despite the potential market of 50 million residential units in the US, investors express concerns about the current revenue streams, noting that the platform's significant income comes from sponsorships rather than subscriptions 3. Michael Hyatt highlights the potential for data aggregation, suggesting that the platform could monetize its vast data on renters 3.

You are sitting on a goldmine of information about what works. And to me, it'd be a tragedy for you to not extract an appropriate amount of value for what you've created.

--- Charles Hudson

Investors urge Ofo to refine his revenue strategy to fully capitalize on the platform's potential 4.