The population in metropolitan cities is increasing at a rapid pace, thanks to the remarkable growth in economic activities such as manufacturing, trade, and jobs that have increased the migration between the cities in different countries worldwide. Consequently, the increase in the number of people relocating to other cities is triggering the high demand for rental homes across the world. Combine this with the growing prominence of smartphones, Internet and other digital technologies, the online house rental sites are gaining immense popularity across the world. While the online real estate market is witnessing the constant emergence of new brands, these top 10 online house rental sites are dominating the market.
Global Online House Rental Service Market Analysis
The concept of the vacation rental marketplace is gaining immense traction and being embraced by the people across the world which in turn, is propelling the growth of the house rental services market. According to the online home rental services market research dossier penned by expert analysts at Technavio, this market will grow to nearly US$ 22 billion by 2022. The report also estimated that the countries in the Americas region will dominate the online house rental services market over the next five years owing to the fast migration of people to urban areas and high penetration of online rental services.
For more insights on the latest global online home rental services market size, top online home rental sites and service providers, and future trends in this market, please check Technavio’s?Global Online Home Rental Services Market Report 2018-2022, or download your?Global Online Home Rental Services Market Report Sample?for FREE!
Top 10 House Rental Sites in the World 2019
Airbnb is one of the leading online house rental sites which has grown into the largest brand in just a span of a decade. The company’s state-of-the-art platform aids all its stakeholders including employees, guests, hosts, and the communities.? By uniquely leveraging innovative technologies, Airbnb aids millions of people across the world to rent out and monetize their extra spaces. Airbnb currently provides access to more than 5 million accommodations in over 81,000 cities across 191 countries. Founded in 2008, Airbnb was formerly known as Airbed and Breakfast and is currently based in San Francisco, California.
CoStar Realty Information
CoStar group is one of the largest providers of commercial real estate information services, analytics, and online marketplaces. The company conducts extensive research to produce the largest database of commercial real estate information. Since its inception in 1987, the real estate company has grown significantly and has expanded its presence worldwide by establishing offices in countries including the United Kingdom, Germany, France, Spain, and Canada. CoStar uses a combination of reliable technologies, resources, and in-depth understanding of more than 5 million real estate properties in the market to create immense opportunities for its clients.
Lodgis is one of the largest real estate agencies and top online house rental sites which has been selling and renting properties in Paris since 1999. The company specializes in furnished apartment rentals for national and international clientele who look for furnished properties for stays in Paris for personal, work, or family purposes. With 17+ years of experience in Parisian real estate market, Lodgis today signs more than 700 contracts a month, offers 7,500 apartments for rent in Paris and the company is chosen by more than 6,500 property owners owing to its quality services.
Founded in 2008 by James Davis, Upad has become the UK’s largest online house rental agency, disrupting the traditional letting agent model. Upad is one of the perfect start-up examples where technology innovation is leveraged to boost the property industry, also termed as ‘Proptech’. The company’s services include property listing, floor planning, photography, tenant referencing, property management, and insurance. Upad has provided its services to more than 12,500 landlords and has helped let 30,000+ properties for rent in the UK. The company allows landlords to advertise their property on Rightmove.com and Zoopl.com within 24 hours.
Zillow was started in 2005 by Lloyd Frink and Rich Barton with an aim to help people make better decisions about their homes. The company launched its first site Zillow.com in 2006 with information on millions of homes in the U.S. for sale, rent, or lease. Today, Zillow owns and operates a broad portfolio of real estate platforms including Zillow.com, Zillow Rentals, Zillow Mobile, Zillow Mortgage Marketplace, and Zillow Digs. Zillow is one of the most-visited real estate brands in the U.S. The company has a database of more than 110 million U.S. homes including homes for rent and homes for sale. Trulia is one of the popular brands by Zillow Group.
Zumper creates an efficient and transparent end-to-end marketplace for making renting apartments easy for both tenants and landlords. Their cutting-edge online house rental site provides an easy way for people to find updated listings of apartments, which can be filtered based on price range, pet requirements, desired amenities, location, bedroom count, and more. Zumper is supported by top investors including Goodwater Capital, The Blackstone Group, Foxhaven Asset Management, CrunchFund, xfund, Breyer Capital, Kleiner Perkins, Greylock Partners, Andreessen Horowitz, Marcus & Millichap, Stereo Capital, and Dawn Capital. Their website is visited by more than 8 million people a month.
Apartments.com is one of the most established online rental sites that offers the comprehensive databases of millions of apartments across the United States. The platform delivers a multimedia experience for its users by integrating the most relevant features including walk-through video demonstrations, personalized searches, a responsive website and apps, and community reviews. Apartments.com network of online home rental sites includes ForRent.com, Apartments.com, Apartamentos.com, WestsideRentals.com, After55.com, ForRentUniversity.com, ApartmentFinder.com, ApartmentHomeLiving.com, and CorporateHousing.com.
Realtor.com is one of the leading real estate listing websites which is owned and operated by the News Corporation subsidiary Move. Realtor.com was launched as a public property listings website in 1996 and since then, the platform has grown into a largest online house rentals website in the US. Realtor.com offers a comprehensive list of properties available for sale in the US, along with information and tools to make appropriate decisions. The website is licensed by the largest trade association of the real estate industry; National Association of Realtors (NAR).
With more than 3 million homes for rent or sale, Homes.com has become one of the leading online house rental sites and real estate agencies. The website allows users to search new homes for sale, and resort properties, foreclosures, multi-family homes, townhouses, condos, and residential homes for rent along with rent-to-own properties. Homes.com has been a trusted industry partner for two decades, owing to its commitment to establish connections between real estate professionals and the 14 million users that visit the site every month by leveraging user-friendly tools.
RentPat, formerly known as Primedia, is one of the leading digital media companies that have a presence in the real estate industry for decades, empowering millions of people in the US to find new homes for sale and apartments and houses for rent. Some of the category-leading online?house rental sites by RentPath include RentalHouses.com, Apartment Guide, Rentals.com, Rent.com, and New Home Guide. Altogether, its network of real estate websites exceeds 7 million visitors on a monthly basis. The company’s flagship brand, Apartment Guide, is one of the most trusted rental resources.
Online Home Rental Services Market Trends
As housing prices and rental rates in densely populated metropolitan dies such as New York, Beijing, Shanghai, Hong Kong, and Tokyo are surging, the demand for alternative home designs such as capsule apartments, box-apartments, and 20-square-foot coffin apartments is on the rise. In June 2017, around 200,000 people residing in Hong Kong resided in coffin apartments. In 2017, the housing prices in Hong Kong were around $1,380 per square foot; thus, the single residents were availing coffin apartment, the rent for which was around $ 180-$250 per month. The growing demand for such small home structures will drive the demand for the global online home rental services market during the forecast period.
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Global Online Home Rental Services Market Report 2018-2022