Homelike, an online marketplace for 30-plus day, furnished apartment rentals, announced plans to expand its operations into the U.S. for the first time — starting in New York City. The Europe-based tech company, which currently hosts more than100,000 furnished apartments across more than 500 European cities on its rapidly-growing platform, plans to further expand its U.S. operations to new markets in 2022.
Since the start of the pandemic, Homelike has seen a significant increase in demand for its services driven by factors like the increase in travel flexibility due to remote work, the platform’s cutting-edge technology, and the growing shift towards digitization of real estate operations at-large, the company said. In 2021, Homelike generated steady double-digit growth in revenue month over month, two times above pre-pandemic levels. The company has also generated three times more rental income for property owners compared to the year before and doubled the number of property owners who are averaging $50,000 plus in rental income on the platform per month.
“The way people live and work is changing rapidly, but booking extended apartment rentals remains a painful and agency-driven experience. The U.S. has become one of our most requested new markets, and we’re excited to launch our platform in the country,” said founder Dustin Figge. “Our mission, wherever we are, is to be travelers’ first choice for extended stays. That’s why we’ve built industry-leading technology to provide an intuitive, trustworthy platform that makes renting an apartment for an extended stay seamless from start to finish.”
Homelike provides a platform that makes it simple to list, discover, compare, book and manage high-quality furnished apartments. Homelike offers tech-enabled services like instant bookings, recurring payments, invoice management and digital rental contracts to replace time-consuming offline processes — ensuring tenants can move in quickly and efficiently.
Property owners who list with Homelike enjoy significant and consistent demand for extended stays from the company’s international, high-quality client base, who rent for 90 days at a time on average. Homelike’s tech-enabled platform delivers availability management and price recommendations backed by real-time data, while the company’s dedicated account managers and reservations team provide on-demand support, market reports and other value-added services.
For tenants, Homelike provides a seamless search experience, booking flexibility and transparent rental agreements, and offers rental value insurance ten times the worth of the property.
