Headquarters Los Angeles | Website onradpad.com | |
Genre Mobile app, real estate, apartments Key people Jonathan Eppers (CEO, Co-Founder)
Tyler Galpin (Creative Director, Co-Founder)
Tim Watson (iOS Developer, Co-founder) | ||
RadPad is a photo-based mobile application where renters can find a new apartment, condo, or home easily via a transparent process with property owners. As of October 2016, renters can no longer pay rent through the app. RadPad became the largest rental service in Los Angeles, the second-largest rental market in the country, in March 2014. The long term future of the company came into question in November 2016 when a liquidation company began listing company equipment for liquidation auction.
Contents
Listing photos and videos
Each property listing must have at least three listing photos. Property owners can also upload videos for a virtual tour.
Verified listings
RadPad requires that property owners confirm their identities via a two-step authentication process that verifies their phone number and requires them to upload a valid, state-issued photo ID. RadPad also requires property owners to renew their listings every two weeks to keep them current.
Quick conversations
Within RadPad's app, a renter can reach out to a property owner to ask questions or set up a viewing. The platform also shows a renter when a property owner has read a message and their location.
Location-based search
RadPad automatically populates available apartments, condos, and homes based on where the renter opens the app. Renters can walk or drive through their desired neighborhood and see listings in real time.
DriveTime DriveTime enables renters to see how long it will take to commute from their workspace to their new home. DriveTime was updated in August 2014 to also include walk, bike, and public transit estimations for renters.
My Rent As of October 2016, renters can no longer pay rent through the app.
Products
Consumers
Browse & Search
RadPad launched in 2012 with Browse & Search, enabling renters to scroll through geo and photo-based listings using an iPhone app or mobile browser.
Pay with RadPad
Launched in 2014, renters can pay their rent with a major debit or credit card. This service is suspended with no timeline for reinstatement.
Real estate and property owners
List with RadPad
Property owners, landlords, property management firms, brokers and other real estate professionals can list available properties, manage listings and syndicate them to RadPad partners. Listers are required to renew their listings every two weeks and have at least three photos, a verified contact number and email address.
User demographic information
Most RadPad users are in college or under the age of 35. Two-thirds of users are female.
History
Jonathan Eppers, Tyler Galpin and Tim Watson founded RadPad in 2012 after attempting to find an apartment in Los Angeles proved to be a terrible experience. Development began in July 2012 in Venice, California, and was released to friends on Facebook in October. In January 2013, RadPad had reached over 10,000 downloads and was invited to join the startup accelerator Amplify.LA.
In mid-2013, RadPad had raised over $800,000 in seed funding led by Deep Fork Capital, one of the very first investors in Trulia. RadPad announced in March 2014 that it had raised an additional $1 million in capital. RadPad closed its seed funding in August 2014 with an additional $2 million investment round. RadPad has raised approximately $4 million in seed funding to date with the investor team including Michael Huffington, Mike Jones, Justin Fishner-Wolfson, Brian Lee, Tom McInerney, Nasir “Nas” Jones, Happy Walters (Co-President of Relativity Media), Deep Fork Capital, Post Investments, SG Acquisitions, Social Leverage, Siemer Ventures, and Queensbridge Venture Partners.
It was also announced in August 2014 that RadPad had declined multiple acquisition offers.
In April 2015, RadPad raised an additional $9M in Series A Funding according to Business Insider.
Founders
Controversy
In 2013, Westside Rentals filed suit against RadPad alleging that they had improperly used Westside Rentals’ brand name by advertising that any apartment listed through RadPad would be automatically listed on Westside Rental’s website. The suit was dropped by Westside Rentals later that year.